Freddie Mac seeks more U.S. aid after big 1Q loss

Posted May 5, 2010 at 4:06 p.m.

Associated Press | 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. It’s another sign that the taxpayer bill for
stabilizing the housing market will keep mounting.

The McLean, Va.-based mortgage finance company has been effectively
owned by the government after nearly collapsing in September 2008. The
new request will bring the total tab for rescuing Freddie Mac to $61.3

Freddie Mac says it lost $8 billion, or $2.45 a share, in the
January-March period.

That takes into account $1.3 billion in dividends
paid to the Treasury Department. It compares with a loss of $10.4
billion or $3.18 a share, a year-earlier.


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