Freddie Mac Needs Another Bailout

Mortgage giant Freddie Mac plans to ask the Treasury Department for an additional $35 billion of taxpayer dollars in order to offset its own operating losses.  Freddie Mac was already given $13.8 billion.

Freddie Mac will pay a 10 percent interest rate on the money it receives, or $3.5 billion per year… which seems impossible considering the company has only once made more than $5 billion per year.

Freddie Mac and competitor Fannie Mae have been overwhelmed with mortgage delinquencies and foreclosures.

Related posts:

1. Freddie Mac Raises Mortgage Fees
2. More Changes Ahead for Freddie Mac and Fannie Mae
3. Fannie and Freddie Planning to Aide Lenders
4. The Impending Reform of Fannie Mae and Freddie Mac
5. Federal Reserve Targets Big Banks

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