Fannie Mae wants $11 Billion more after showing a loss of $15 Billion.

1. Fannie Mae plans to tap $11000000000 ($ 11 Billion) in new government aid after posting another massive quarterly loss.

2. Fannie Mae's new request for $ 11 billion from the Treasury Department will bring the total for Fannie & Freddie to nearly $ 96 billion.

3. Together Washington D.C. based Fannie and McLean Virginia based Freddie Mac own or guarantee almost 31 million home loans worth about $ 5.4 trillion (About half of all US Mortgage).

4. Fannie Mae posted a second quarter loss of $15.2 Billion i.e. $2.67 per share including $411 million in dividend pay outs.

5. The results were driven by $18.8 billion in credit losses due to declining housing market conditions, made worse by rising unemployment. Nearly 4% of the loans Fannie Mae owns or guarantees were delinquent as of 30th June 2009.

Paulson Reveals US Concerns of Breakdown in Law & Order

1. On 16th July 2009 the ex-US Treasury Secretary Henry Paulson revealed that the Bush administration and Congress discussed the possibility of a breakdown of law & order and the logistic of feeding US citizens if commerce and banking collapsed.

2. He further stated that it was important at the time not to reveal officials' concerns, for fear it would terrify the American people and lead to an even bigger problem.

3. In the days that followed the Lehman Brothers fiasco, a run on some of the safest investment instrument in the financial markets threatened it impossible for people to access their savings, eventualy leading to a 1930's depression.

List of Bankruptcies in July'09

In July 2009 a total of 7 major bankruptcies took place. Which is 1 less than the previous month. Now the figure stands at 71 major bankruptcies in 7 months at an average of 10.14~10 bankruptcies every month.

List of Bankrupted companies for the month of July:-

1. A1 Grand Prix Operations (UK)

2. Allied Carpets (UK)

3. Bashas' Retailers (USA)

4. Crabtree & Evelyn (USA)

5. Lear Corporation (USA)

6. SPV Gmbh (Ger)

7. Station Casinos (USA)