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Barney Frank's
WASHINGTON (AFP) -- Freddie Mac, the ailing US mortgage finance giant seized by the government, reported Wednesday a 2008 net loss of 50.1 billion dollars, nearly half of which occurred in the fourth quarter.Freddie Mac said it had a fourth quarter net loss of 23.9 billion dollars, down slightly from a 25.3-billion-dollar loss in the third quarter. Losses in the final quarter mainly were driven by writedowns, including on the company's derivative portfolio, and increased credit-related expenses, said the company which was taken over by the government in September to prevent its collapse. The company said its government-appointed conservator has asked the US Treasury for an additional 30.8 billion dollars in funding as part of its bailout.
Posted by: Unerelet Crith8441 2009-03-11 |
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| http://www.rantburg.com/poparticle.php?ID=264730 |