Posted on 08/08/2011 2:46:09 PM PDT by Justaham
WASHINGTON (AP) - Government-controlled Freddie Mac is asking for $1.5 billion in additional federal aid after posting a loss this spring. The mortgage giant says it lost $4.69 billion, or $1.44 cents per share, in April-June quarter. That takes into account $1.6 billion in dividends paid to the Treasury Department. It compares with a loss of $6 billion, or $1.85 per share, during the same quarter in 2010.
The government rescued McLean, Va.-based Freddie Mac and sibling company Fannie Mae in September 2008 after massive losses on risky mortgages threatened to topple them.
Standard & Poor's cited the link to the U.S. government when it lowered Freddie and Fannie's credit ratings on Monday, from AAA to AA+. That reflected the same downgrade S&P made of long-term U.S. government debt on Friday.
(Excerpt) Read more at breitbart.com ...
How much of that would the Massachusetts fudge packer get?
So Peter is going to borrow from Peter again to pay Paul...
And then the USPS will be asking for billions and then all of the states...
KILL THE DODD/FRANK bill and the CRAct amendments that CAUSED the housing meltdown and repeal ObamaCare.WHY CAN’T THESE PEOPLE JUST DO THEY’RE JOBS?
The whole thing is falling apart.
Where are the Anti Gold bugs on this site now that this is happening? Used to be quite a lot of them floating about.
w about we sell all of the gold in Fort Knox and cash in the metal of the statue of liberty right now to pay off China?
How about we sell all of the gold in Fort Knox and cash in the metal of the statue of liberty right now to pay off China?
My 95 year old Dad recently told me........
“When you borrow from Peter to pay Paul, all you get is a sore Peter.”
“So Peter is going to borrow from Peter again to pay Paul...”
Actually were are now up to paying Ringo, George, John and Yoko Ono too.
They are. There job was to melt down America and install a communists government with a dictator at it's head. Have we been following King Obama?
LOL. God bless him!
After what government has been doing to us for years, I am sure that is has very sore Peter, indeed.
No way!
When does it stop???
While they are also blaming Bush for the complete mess, how about the last two years of Bush Pres. when Congress was all Dem.I actually do assign some of the blame to Bush for not being strong enough on trying to curb Fannie/Freddie. He never got in the bully pulpit and roared.
vaudine
Where does Freddie Mac thinkk the money is going to come from?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.