Recession Global

The largest U.S. mortgage agency Fannie Mae has asked the Ministry of Finance of the U.S. aid of $ 10.7 billion.Please associated with a significant net loss in the second quarter of 2009, the Newsru.As stated in a press release the company, its net loss for the second quarter of 2009 increased six-fold and amounted to 14.7 billion dollars compared with 2.3 billion dollars during the corresponding period last year.This net loss of Adjustment per share Fannie Mae in the period reached a level of 2.67 dollars, which is 5.1% more than in the second quarter of 2008 - 2.54 dollars per share.Revenue mortgage broker, was transferred in September 2008 by the state decreased by 41% and amounted to 5.59 billion dollars against 3.97 billion dollars a year earlier.According to the American newspaper Washington Post, the U.S. government is considering the option of restructuring of Fannie Mae and another leader of the U.S. mortgage market, Freddie Mac, implying the release of the companies from the bad debts.Their management will be a special government corporation. According to government experts, the newspaper said, such measures will significantly improve the financial condition of mortgage brokers.In September 2008, Fannie Mae and the other flagship of the U.S. mortgage market - Freddie Mac have been transferred under the authority of the state. The U.S. government has decided to do so for fear that the country's biggest bankruptcy of mortgage agencies, which have suffered multibillion losses because of non-mortgage loans, causing severe disturbances in the domestic and foreign financial markets.Many analysts believe that the severe financial problems of Fannie Mae and Freddie Mac, which funded the lopnuvshy "bubble" in the real estate market, have become one of the reasons for the beginning of the world economic crisis.