Treasury Department announced on Monday that it had finished selling the $225 billion in mortgage-backed securities it bought to help stabilize the markets during the worst of the financial crisis.
The government ended up making a $25 billion profit on the securities, which are guaranteed by Fannie Mae and Freddie Mac, the government-owned mortgage finance companies. The profit came from interest payments, principal and rising prices for the securities, the department said.
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1 comment:
Stabilized market, about 5 - 6% per year return on investment, prevented total financial collapse....obviously a bad idea and bad deal for taxpayers
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