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Keyword: thefeddie

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

11/03/2010 7:57:03 AM PDT · by george76 · 11 replies
AP ^ | November 3, 2010 | MARCY GORDON

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.

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