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Housing expert: 'The government has looted' Fannie Mae and Freddie Mac

Fannie Mae reported its quarter two earnings, showing a drop year-over-year and a dividend payout of $3.4 billion to the U.S. Treasury. Former Fannie Mae executive, Tim Rood, who's also the managing director at SitusAMC, says 'the government has lotted' Fannie Mae and Freddie Mac. He joins Yahoo Finance's Akiko Fujita.