Updated from 7:00 a.m. ET with comments from fund manager Bruce Berkowitz.NEW YORK ( TheStreet) -- Five years ago this week, the government bailed out housing finance giants Fannie Mae ( FNMA) and Freddie Mac ( FMCC) and placed them in conservatorship. It was the first of many bailouts to follow, but it was the largest, with taxpayer support adding up to $188 billion over time. Today, these government-sponsored enterprises, or GSEs, are back to making record profits, thanks in part to a recovery in housing. By September, Fannie and Freddie will have collectively paid Treasury $146 billion in dividends. Analysts predict the dividends from GSE could make taxpayers whole by the end of 2014. Shares of Fannie Mae and Freddie Mac are rising from the dead, up 384% and 329% respectively year-to-date. The GSEs also remain the biggest providers of liquidity in the mortgage market. Together with the Federal Housing Administration, they back nine out of every 10 new mortgages originated today, with private capital largely missing from the market. Still, there is no talk of the companies returning to private hands, much to the chagrin of shareholders who have held onto the shares. In fact, practically everyone in Washington wants them dead.