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Freddie Mac requests additional $1.8 billion in aid from federal government
 Government-controlled mortgage giant Freddie Mac is requesting $1.8 billion more in federal help after a larger second-quarter loss. Freddie Mac lost $6 billion, or $1.85 per share, from April through June, the firm announced Monday. Those losses include $1.3 billion the company is required to pay the Treasury Department, representing a 10 percent annual dividend. "We recognize that high unemployment and other factors still pose very real challenges for the housing market," Freddie chief executive Charles Haldeman said in a statement. "With that in mind, we continue to focus on the quality of the new business we are adding to our book to be responsible stewards of taxpayer funds." Then his lips fell off.. During the same period last year, the company lost $840 million. Posted by: Fred 2010-08-10 |
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