Fannie Mae posts massive $2.3bln loss

WASHINGTON (AFP) - Struggling home finance giant Fannie Mae Friday reported a massive second-quarter loss of 2.3 billion dollars, more than three times analysts’ estimates.The loss per share was 2.54 dollars, compared with analyst projections of 0.69 dollars, and was mainly attributed to provisions for losses related to the US housing crisis.The government-sponsored, shareholder-owned company [...] continue reading world news