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10. Fannie Mae
Fortune 500 rank: 53
2007 loss: $2.05 billion

It was a tale of two halves for Fannie. In the first six months of 2007, Fannie posted a profit of $2.9 billion. In the second, it lost $5 billion. The government-sponsored entity which, together with Freddie Mac, is chartered to increase home ownership, said it lost $3 billion more in 2007 than in 2006 on the home loans it held.

Fannie also lost money on the land it owned through foreclosed properties, and $4.1 billion on its portfolio of derivatives contracts. But Fannie was actually busy raising more money last year, which should help it buy higher-quality loans considered better bets to pay off.

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Last updated April 24 2008: 11:01 AM ET