Freddie Mac posts $4.1 billion loss for third quarter, seeks additional $100 million in aid

AP ^ | November 3, 2010 | MARCY GORDON

[george76]

Government-controlled mortgage buyer Freddie Mac on Wednesday posted a narrower loss of $4.1 billon in the third quarter as it asked for an additional $100 million in federal aid — substantially less than the $1.8 billion it sought in the second quarter.

The government rescued McLean, Virginia-based Freddie Mac and sibling company Fannie Mae nearly two years ago to cover their losses on soured mortgage loans, and it estimates the bailouts will cost taxpayers up to $259 billion.

[FES0844]

and Barney was reelected. Go figure.

[RC2]

If the President didn’t go to India, they might be able to afford it. What are they going to use the money for? Maybe it’s to pay their salaries.

[Mobties]

I guess that means the bonuses will be even bigger this year!

sarcasm/off

[PLD]

And so they voted the queer back into the seat..Sick bunch of morons in Mass..Time to get rid of this little fat porky pig..send him to San Fransisco..

[rightwingextremist1776]

Since the fag from Mass still has a job maybe we can take it out of HIS pocket......

[The Comedian]

That's a Massachusetts voters' debt, let the Frankers pay it.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Thermalseeker]

Meanwhile, in other economic news the Federal Reserve will announce a plan today to buy up $500 BILLION in bonds with money they don’t have. Use the search string “Weinmar Republic” for details.....

[Iron Munro]

They both should have been shut down two years ago.
But it’s not too late to do so.

[azhenfud]

Instead of continuing to prop up those big bank failures, why not actually force criminal mortgage fraud bank participants to pay down borrowers notes to an amount equal to 1/6th their current mortgage debt? If one owes $150k and it's paid down to $25k, that $125k write-off would be better spent back into the economy than to fill a CEO’s coffers.

Seventeen cents on the dollar is better than nothing and receivership and floats the banks until the economy gets better or worse.

It'd be much cheaper on taxpayers than the current Ponzi scheme where the Fed is covering banks’ fraud and corruption that will soon unwind - BIGTIME.

[george76]

The corrupt bargain includes campaign cash to 0 and pals.

[Vaduz]

Government-controlled anything when has that ever worked?.