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2. Fannie Mae
2. Fannie Mae
Fortune 500 rank: 5
2010 loss: $14.0 billion

Fannie Mae slides iin right behind Freddie Mac, as the weak housing market and high unemployment rate continue to hamper the nation's largest mortgage buyers.

Although Fannie narrowed its losses on risky mortgages in 2010, the company's balance sheet is still ugly. Though it's been nearly three years since the U.S. government bailed out Fannie and Freddie, there doesn't seem to be an end to the problems in sight. In February 2011, Fannie asked the government for an additional $2.6 billion in aid. This brings the total taxpayer bailout to $90.2 billion as of March 31, 2011.

Like Freddie, Fannie attributed some of its 2010 losses to dividends on preferred stock paid to the U.S. Treasury as part of its conservatorship agreement. Fannie topped this list last year and held the No. 2 spot the year before. Just how much longer these losses can continue remains to be seen.



NEXT: 3. Sprint Nextel
Last updated May 05 2011: 3:06 PM ET
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