Fannie and Freddie Can't Pay Feds Dividend As Part of Bailout Deal

The National Review reports:

these failed government agencies are in such bad shape that they can’t even pay Uncle Sam the dividends owed under the conservatorship deal reached two years ago. That’s right. In order to pay a $1.8 billion dividend on Treasury department stock, Fan and Fred had to borrow $1.5 billion from — you guessed it — the Treasury.

Great moments in bailouts.