WASHINGTON (Reuters) - U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms' regulator said on Wednesday. Washington bailed out the two firms in 2008 at the height of the financial crisis and has since seized all their quarterly profits while demanding the firms reduce their capital buffers. "Future profitability is far from assured," Federal Housing Finance Agency Office of Inspector General said in a report, pointing out that the firms could again chalk up losses on their derivatives portfolios, similar to those they reported in the fourth quarter. "(This) increases the likelihood of additional Treasury investment," the report stated. Fannie Mae's chief executive issued the same warning in February when the firm announced it would make its smallest payment to taxpayers in more than four years. The possibility of another taxpayer draw raises pressure on the U.S. Congress to overhaul housing finance laws, although a real push on legislation is not expected anytime soon. Taxpayers pumped $116.1 billion into Fannie Mae following the U.S. housing market collapse, while Freddie Mac was propped up with $71.3 billion. Both firms have already paid in dividends more than they received in aid. The government-run companies do not lend money directly, but underpin the U.S. housing market by guaranteeing most new mortgages in the country. Fannie Mae and Freddie Mac purchase loans from lenders and package them into securities that are then sold to investors. (Reporting by Jason Lange; Editing by Diane Craft)
- The Daily Beast
BRENDAN SMIALOWSKIDays after the Secret Service pushed back on the stunning testimony that former President Donald Trump violently freaked out during a Jan. 6 presidential SUV ride, CNN reported on Friday that accounts of Trump lunging at his Secret Service agents have spread around the agency for the past year.According to two Secret Service sources, stories similar to ex-Trump aide Cassidy Hutchinson’s account—which she testified under oath was told to her by former Trump staffer and current S
"I was deeply unhappy, barely containing secrets that would soon devastate me emotionally and send me to the brink of suicide at the height of my fame."
- The Guardian
It was the second warning Cassidy Hutchinson had received before her deposition, cautioning her against cooperating with the panel
- The Daily Beast
Anderson County Sheriff's OfficeA 28-year-old Texas man accused of orchestrating the horrific smuggling operation that killed 53 migrants this week frantically texted the driver when the truck went off the radar and later admitted to a confidential informant he had no idea the air conditioning had failed in the sweltering big rig, the feds say.Christian Martinez, 28, was arrested Tuesday on a trafficking charge involving death that could result in life in prison or the death penalty after migran
- CBS News
One of the girl's family members jumped in the water and beat the shark off of her until she was free, officials said.
- Fox News
January 6 committee's Kinzinger: Secret Service agent who may dispute Hutchinson claim 'likes to lie'
Rep. Adam Kinzinger, a member of the Jan. 6 committee, said a Secret Service agent who may testify against Cassidy Hutchinson's retelling of events "likes to lie."
Legendary competitive eater Joey Chestnut reveals what happened to his body after he ate 76 hot dogs and buns in 10 minutes
Joey Chestnut told Insider that he starts sweating profusely after the competition, and people have told him it smells like hot dogs.
- AZCentral | The Arizona Republic
In a Republican gubernatorial debate full of cringe-worthy moments, their answers on whether the 2020 election was stolen were the creepiest of all.
- Good Housekeeping
"Hollaback Girl" singer and 'The Voice' coach Gwen Stefan posted a bikini photo of herself on Instagram while working on her makeup line. See the photo and read how fans reacted.
- Golf Channel
The PGA Tour added seven more players to the list of those who have been indefinitely suspended because LIV participation.
- The Columbus Dispatch
After the Supreme Court overturned Roe v. Wade, it's left some in Ohio to travel outside the state for an abortion. Among them is a 10-year-old girl.
- Ukrayinska Pravda
ALONA MAZURENKO - FRIDAY, 1 JULY 2022, 21:06 Valerii Zaluzhnyi, Commander in Chief of the Armed Forces of Ukraine, said that Russian occupying forces conducted an airstrike on Zmiinyi (Snake) Island on 1 July, dropping phosphorous bombs on the island.
- NBC Sports BayArea
By re-signing only one of their top three free agents, Kevon Looney, the Warriors created more room for the future core to contribute. Winning it all makes this an easier call.
- The Wrap
James Corden Refuses to Call Peter Doocy by Correct Name While ‘Filling In’ as White House Press Secretary (Video)
Corden decided Doocy's name was David and didn't leave any room for argument
- NY Daily News
The Jan. 6 committee apparently suspects that the Trump loyalist who sought to pressure bombshell witness Cassidy Hutchinson into keeping quiet was not only acting as an intermediary for White House Chief of Staff Mark Meadows. The panel reportedly wants to interview the unnamed “associate” of Meadows as a “fact witness” to what the former President Donald Trump and his chief of staff were ...
- Women's Health
Addison Rae just wore the most stunning nude slip dress for an in-bed photoshoot. The pics? Super sultry! Here are the best dupes for her silky tank dress.
This isn't your average swimsuit.
- NBC Sports BayArea
Juan Toscano-Anderson is a Los Angeles Laker, but is forever grateful for his time in the Bay.
- NBC Sports Boston
Twitter went into a frenzy after the Minnesota Timberwolves reportedly acquired Rudy Gobert in a blockbuster deal with the Utah Jazz.
- Consequence of Sound
The cover art apparently pays homage to the Renaissance painting of Lady Godiva, as well as Bianca Jagger's grand entrance on horseback at Studio 54 in 1977. Beyoncé Reveals Cover Art for Renaissance Alex Young