The third time’s the charm

So guess who is not drinking the kool aid at the green shoots party?

Yes, you guessed right. Fannie Mae. It seems the venerable institution, who we should remind our readers is as of lately under government conservatorship in order to find a way not suck badly, actually sucks pretty bad.

In an interesting twist on the whole green shoot scenarios, they lost 14,8 bil this quarter. Only slightly better than the 20 bil they lost last quarter. So most def that second derivative is looking good. But until they find a way to correct that first derivative, they are gonna have to hit that TARP bitch for something like 10 bil, in what will be the third Gov ATM withdrawal in the last year, bringing the total to 90 bil. Ouch. Hey at least they are not AIG right? Hit this and this for the details.