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Government Controlled Companies Got A $4 Billion Bailout Last Week – And Nobody Noticed

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The Federal government wrote a $4 billion check to two American companies on Friday, and not a single publication bothered to report it.

The mortgage giants Fannie Mae and Freddie Mac make more money per employee than any other company in America – and for the past decade, have been 100% under government control.

The tale of Fannie and Freddie is a reminder that “temporary” government help is seldom temporary. The two companies initially agreed to take $187 billion in bailout funds during the financial crisis in 2008, which they’d pay back with 10% interest. The two firms returned to profitability sooner than expected from the financial crisis, so much so that the federal government changed the terms of the deal, and implemented a so-called “net worth sweep,” in which they’d take 100% of the firms’ profit

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