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Undercapitalisation of Fannie Mae (NYT)

Always knew Fannie Mae and Freddie Mac were severely under-capitalized. Nevertheless was stunned when I read this para at NYT. I don't know what stunned me, the colossal figures or the effortlessness with which it is said.

Fannie Mae, along with Freddie Mac, are essential lubricants in today’s housing marketplace. The companies buy more than 80 percent of all home loans made by banks and lenders, providing fresh financing for more home mortgages. At the end of 2007, the firms had a combined cushion of $83 billion, underpinning a colossal $5 trillion in debt and other financial commitments.
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