WASHINGTON (AP) — Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year.
The new request will bring the total bill for rescuing Freddie Mac, which has been effectively owned by the government since nearly collapsing in September 2008, to $61.3 billion.
Freddie Mac said Wednesday that it lost $8 billion, or $2.45 a share, in its first quarter. The results compared with a loss of $10.4 billion a year earlier. The most recent quarter includes $1.3 billion in dividends paid to the Treasury Department.
Thursday, May 06, 2010
Obama, Pelosi and Reid will give it to them.