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Fannie and Freddie losses hit $226 billion

The government backed mortgage finance companies have burnt through $226bn in capital since the middle of 2007. The majority of those losses, or about $166bn, came from guaranteeing loans on single family homes, according to the first in what will be a series of quarterly reports from the Federal Housing Finance Agency, which regulates Fannie Mae (which is headquartered in Washington, DC ) and Freddie Mac (which is headquartered in Tysons Corner, VA).

Ballooning losses at Fannie and Freddie, which have taken $148bn in government aid to stay afloat have become a subject of intense debate in Washington. Most of the decision makers agree that the government needs to continue to provide some kind of guarantee to backstop home loans as well as stem the rising tide of foreclosures, but what form that should take is still up for debate.

Hotel Monaco Offering "Your Summer Playground"

Kimpton’s Hotel Monaco in Old Town Alexandria, VA is offering a special summer package now until September 10. For only $10 more you received deluxe accommodations, $25 credit per night to spend in the hotel restaurants, morning iced coffee, a few in-room movie with popcorn, afternoon Arnold Palmers and sangria at the evening wine hour. The Summer Playground package is a perfect way to relax, wine, and dine in Old Town before the summer is over.