Summary Box: Freddie Mac’s losses continue, but mortgage giant doesn’t need more taxpayer aid
By APWednesday, February 24, 2010
Summary Box: Freddie Mac’s losses continue
LOSSES CONTINUE: Mortgage finance company Freddie Mac said Wednesday that it lost $7.8 billion, or $2.39 a share, in the fourth quarter of last year. That was down from $23.9 billion, or $7.37 a share, in the same quarter a year ago.
UNCLE SAM DODGES A BULLET: Freddie Mac has already received $51 billion in taxpayer aid since it nearly collapsed in September 2008. But it didn’t need more money this time.
TROUBLE AHEAD: Freddie Mac’s chief executive, Charles Haldeman, warned of a “potential large wave of foreclosures” still to come.
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