Thursday, May 06, 2010

Freddie Mac Wants $10.6 Billions More

Obama, Pelosi and Reid will give it to them.

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.


rossabh said...

Forbes four biggest losers for 2009
Fannie Mae
Freddie Mac
and the government is putting on a Wall Street Show with Goldman-Sachs, the co investor with Fannie Mae in CCX based upon the largest fraud ever perpetrated on humanity. The Delusional Deniers give proof to the saying = informed.
“None are as blind as those who refuse to see.” -- Evolved statement of a proverb which also could be “None are as deaf as those who refuse to hear.”

Marc said...

I just hope everyone remembers this come November.

Brain Bliss