- Texas man arrested for powder-letter hoax
- Islamic State opens ‘marriage bureau’ for single jihadists
- Drone almost blocks California firefighting planes
- Tornado rips off roofs, downs trees near Boston
- GOP: Environmental rules keeping agents from accessing border
- John Kerry: Millions displaced by religious fighting in 2013
- Federal appeals court rules against Virginia’s gay marriage ban
- White House says Russia ‘losing’ war in Ukraine
- Hamas turns to North Korea for weapons deal, Iran for money
- Syrian casualties surge as jihadis consolidate
Topic - Karl Smith
For example, he noted a key breakthrough this year when Fannie Mae and Freddie Mac achieved profitability after five years of government conservatorship and a deep housing recession, enabling them to provide the Treasury with a one-time cash dividend of $87 billion that partially repays some of the $190 billion they received in a taxpayer-financed federal bailout in 2008.
The revenue windfall from Fannie and Freddie, which was part of the reason for the big reduction in federal spending and deficit estimates this spring, also provided a powerful clue about the underlying strength of the economy, Mr. Smith said.