Fannie, Freddie Costs Expected to Sink

The Wall Street Journal reports:

The cost of rescuing mortgage giants Fannie Mae and Freddie Mac is likely to sink to nearly half of the current cost over the next decade, the Obama administration said Monday.

The White House, in its budget for the 2012 fiscal year, starting in October, said keeping Fannie and Freddie afloat will cost $73 billion by 2021, reflecting dividends paid back to the Treasury Department.