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Fannie Loses $14.8bn, Needs $10.7bn 

Government-sponsored enterprise (GSE) Fannie Mae [stock FNM][/stock] said it needs a $10.7bn injection of cash from the Treasury Department to stay afloat after losing $14.8bn in Q209. The Q209 loss, about $2.67 per share, is less than the $23.2bn ($4.09 per share) that Fannie had in Q109. Fannie had $18.8bn in credit-related expenses, which was down from $20.9bn in Q109. The provision for credit losses was $18.2bn, but only $4.8bn of that was for net charge-offs. The remaining $13.4bn went toward building loss reserves, as Fannie expects continued losses.