Tabs for Fannie, Freddie soar

Tabs for Fannie, Freddie soar

WASHINGTON

The government spelled out Thursday just how much the most-expensive rescue of the financial crisis will end up costing taxpayers — as much as $259 billion for mortgage buyers Fannie Mae and Freddie Mac.

That figure would be nearly twice the amount Fannie and Freddie have received so far. To date, the rescue of the two companies has cost taxpayers $135 billion. They have repaid $13 billion to the Treasury Department as dividends.

By contrast, the combined bailouts of financial companies and the auto industry have cost taxpayers roughly $50 billion, according to Treasury’s latest projections. And the bailouts of Wall Street banks alone, which sparked public fury, have so far brought taxpayers a $16 billion return.

Clinton remarks on pipeline criticized

WASHINGTON

Senators from both parties criticized Secretary of State Hillary Rodham Clinton on Thursday for signaling likely U.S. support for a $7 billion pipeline to carry Canadian oil to refineries along the U.S. Gulf Coast.

Sens. Mike Johanns and Ben Nelson of Nebraska and Jeff Merkley of Oregon called Clinton’s comments premature and damaging to the integrity of the federal review process. The lawmakers cautioned Clinton to consider all sides before deciding whether to grant a permit allowing TransCanada’s Keystone XL pipeline to cross the U.S-Canadian border.

Frozen vegetables are being recalled

CHARLESTON, W.Va

State officials are checking grocery-store freezers for products containing frozen peas that have been recalled because they may contain glass fragments.

The Pictsweet Co. announced a voluntary recall last Friday of the following Kroger and Walmart store-brand frozen vegetables:

Kroger 12-ounce Green Peas with production codes 1440BU, 1440BV, 1440BW, and 1600BD.

Kroger 12-ounce Peas and Carrots with production codes 1960BD and 1960BE.

Great Value-12 ounce Steamable Sweet Peas with “best by” dates of July 20, 2012, and July 21, 2012.

Great Value-12 ounce Steamable Mixed Vegetables with a “best by” date of July 15, 2012.

Associated Press