Gov­ern­ment sells off $225B in se­cu­ri­ties

The Washington Times Daily - - Politics -

The Trea­sury Depart­ment has sold off the final por­tion of $225 bil­lion in mort­gage-backed se­cu­ri­ties it pur­chased dur­ing the height of the fi­nan­cial cri­sis.

Trea­sury said Mon­day that the sales of se­cu­ri­ties is­sued pri­mar­ily by trou­bled mort­gage com­pa­nies Fan­nie Mae and Fred­die Mac have net­ted the gov­ern­ment $25 bil­lion in in­ter­est. The gov­ern­ment be­gan sell­ing its se­cu­ri­ties one year ago. The final sales were com­pleted last week.

“The suc­cess­ful sale of these se­cu­ri­ties marks an­other im­por­tant mile­stone in the wind down of the gov­ern­ment’s emer­gency fi­nan­cial cri­sis ef­forts,” said Mary Miller, Trea­sury’s as­sis­tant sec­re­tary for fi­nan­cial mar­kets.

Even with the sales, the gov­ern­ment still has heavy losses from the res­cue of the two mort­gage gi­ants in Septem­ber 2008.

Tax­pay­ers have spent more than $150 bil­lion to res­cue Fan­nie and Fred­die, the most ex­pen­sive bailout of the

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