Waddling Back To The Trough

Here comes a squealing Fannie Mae, begging to suck on the taxpayer teat yet again. Hey, I know, let’s throw some more good money after bad.

Fannie Mae Seeks $8.5 Billion in U.S. Aid After Reporting Loss

Fannie Mae, the mortgage-finance company operating under U.S. conservatorship, will seek $8.5 billion in Treasury Department aid to balance its books after reporting a $6.5 billion loss in the first quarter.

Fannie Mae is requesting the money to eliminate a net worth deficit of $8.4 billion for the three-month period that ended March 31, according to a Securities and Exchange Commission filing today. The $6.5 billion loss for the quarter compares with an $11.5 billion shortfall in the same period a year ago.

. . .

Fannie Mae’s smaller rival, Freddie Mac of McLean, Virginia, posted a $676 million first-quarter profit on May 4. Freddie Mac reported a net worth of $1.2 billion and didn’t request additional aid.

The two companies, which own or guarantee more than half of U.S. single-family mortgages, have drawn more than $160 billion in Treasury aid since September 2008, when they were seized by the federal government amid losses that pushed them to the brink of insolvency.

See also:
Fannie Mae Falls Back Into the Loss Column
Fannie Mae to ask $8.5bn of Treasury
Fannie Mae seeks $8.5 billion from taxpayers
Fannie Mae Posts Deep Loss
Fannie Mae requests additional 8.5 billion dollars in government aid
Fannie’s Friday Earnings Release: $8.7-Billion Loss

And who’s responsible for this financial black hole?

Why are we continuing to prop up this bull[expletive deleted]? Let Fannie Mae fail. How much worse can the housing market get? In fact, the government’s insistence in meddling in the housing market. led by the Democrats, only prolongs the inevitable and prevents the free market from sorting itself out.

/take away the trough, wean Fannie Mae from the taxpayer teat, vote Republican in 2012, it’s the only way to be sure

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Oh Boy, Look What Israel Found

I’m shocked I tell you, shocked, the peace loving Iranians caught smuggling illegal weapons to the peaceful people of Gaza, how can this be?

Israel Seizes Egypt-Bound Ship With Arms On Board

Israel announced Tuesday that its naval forces have intercepted and seized a cargo ship carrying weapons from Turkey to Egypt, adding that it believed the arms shipment originated in Iran and was destined for the Palestinian militants in Gaza.

Israeli officials said the ship was seized some 200 nautical miles west off the Israeli coast. An initial search of the seized vessel uncovered three containers loaded with arms and officials indicating the ship would be searched thoroughly after it reaches Israel.

The seized cargo ship was identified as “Victoria,” which according to Israeli officials had initially set off from the Syrian port of Lattakia to Mercin in Turkey. They said the vessel was seized when it was heading towards the Egyptian port of Alexandria from Turkey.

The Israeli officials, however, stressed that their initial investigations indicated that neither Turkey nor Egypt were involved in the arms shipment. They believe the countries involved in the shipment were Iran and Syria.

“The only certain thing is the source of the weaponry was Iran, and there was a Syrian relay station as well. This is the main axis that provides the forces of terror in Lebanon and Gaza,” Israeli Prime Minister Benjamin Netanyahu said Tuesday.

See also:
Israel seizes ship carrying weapons for Gaza
Israel intercepts ship with ‘Gaza-bound weapons’
Israel seizes ship carrying weapons
Israeli Navy Seizes Suspected Arms Vessel
News Analysis: Captured Gaza-bound weapon ship just one of many: analysts
Israel Seizes Syrian Ship Bringing Iranian Weapons To Gaza — Will Nukes Be Next?
Anti-ship Missiles and Guidebooks Found on Victoria
Chinese Made Anti Ship Missiles On Board ‘Victoria’ (PHOTOS)
Navy dep. commander: ‘Victoria’ carried anti-ship missiles
Navy: Anti-ship missiles, Farsi manual found on seized vessel
Israel’s arms seizure points to Iran
Israel’s seizure of arms shipment highlights rising unease about Iran
Analysis: Israel’s shadow war against Iran
PM: Capture of ship shows world dangers Israel faces

Now, why on Earth would Hamas, the government of Gaza, need sophisticated anti-ship missiles and why would Iran be supplying them? Nevermind, that was a rhetorical question, Iran and Hamas both want to wipe Israel off the map and exterminate all the Jews.

/and all the while, the Western governments just stand by cowering, like so many eunuchs, picking their collectives noses while they watch Iran develop nuclear weapons before their very eyes and do nothing to stop it, what are they waiting for, the mushroom cloud over Tel Aviv?