Friday, February 27, 2009

Datapoint of the Day

Really, it's the 6.2% decline in fourth quarter GDP, but that's too depressing to think about. This tidbit from the Wall Street Journal today was also pretty astounding:

On Thursday, U.S. mortgage titan Fannie Mae, which the government took over last year, reported a larger-than-expected $25.2 billion loss for the fourth quarter, as losses on home loans piled up. The company's full-year loss of nearly $59 billion exceeds its net income for the preceding 17 years.


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