Freddie Mac suffers six billion dollar quarterly loss

Posted 2010/08/10 06:59:34
Read all 85 opinions

Related Topics: Unemployment, Mortgage, Health Care, Government

(Gee I can hardly wait for government to take over health care. They just do such an excellent job with EVERYTHING they control don't they?)

EXCERPTS:

Troubled US mortgage firm Freddie Mac
reported Monday a second quarter net loss of six billion dollars and
sought another 1.8 billion dollars from the Treasury to contain the red
ink.

The government-backed company said its strategies to boost business and
"sustainable home ownership" were taking hold but cited high unemployment
posing "very real challenges" for the already embattled housing market.

Freddie Mac suffered a 6.009 billion dollar net loss attributable to
common stockholders in the April-June period from a loss of 7.980
billion dollars in the first quarter and 840 million dollars in the year
ago period.

The rest of the story can be found at the link below.

980 dollars quarter 840 dollars year period rest story link

+20

plowboy 2010/08/10 14:33:34

+9
Now who could have seen that coming!

>> See Replies

Heisenberg 2012/04/04 01:02:18

This is interesting, but I guess now they'll have to start managing money better. I don't think they deserve a bailout this time.

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Heisenberg 2012/04/04 01:02:17

This is interesting, but I guess now they'll have to start managing money better. I don't think they deserve a bailout this time.

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Donna Wolf 2012/03/13 05:30:17

About fricking time!

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Steve J~PWCM~JLA 2011/08/22 13:50:56

Freddy
Fannie
USPS
Amtrak
SSI
Medicare
now Healthcare.

OH, don't forget the fraudulent underfunded pensions. Our Government is bent on getting to a Quadrillion in debt. 1/4 of the way there.

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easyedu... to Steve J... 2011/08/23 15:47:45 (edited)

Maybe Stuxnet has altered the way of thinking into deeper Keynesian economics. :)

"Our Government is bent on getting to a Quadrillion in debt. 1/4 of the way there."

Answer to that, it's already there. Just observe the rapidly exploding trade deficit too. :)

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Steve J... to easyedu... 2011/08/23 16:03:39

+1
I thought a devaluation of the dollar would fix that. ;o)

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easyedu... to Steve J... 2011/08/23 16:25:22

+1
So, that's they all said... :) We know the obvious.

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Steve J... to easyedu... 2011/08/23 16:28:57

+1
Resend the BLS link. Or just message me. Did you get my email?

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easyedu... to Steve J... 2011/08/23 16:32:44

I've sent it to your SH mail.

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Pegasis 2011/07/29 23:35:40

We are close to default on the governent debt. Where the hell does Freddy Mac think that money will come from?

OH yeah! The seniors can give up their SS and health care so Fannie and Freddy can carry on their profligate ways.

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Matt 2010/08/20 18:23:48 (edited)

+3
Freddie is not "losing" money ! They are giving it to the banking arsonists who burned it down ! The banks who now have the houses and the money !

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Linda to Matt 2011/06/04 03:41:25

+2
and the banks are beholden to whom? Fed Reserve...who is beholden to whom? IMF...

and we wonder why TARP money wound up in foreign banks?

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Matt to Linda 2011/06/04 06:30:26

+1
Exactly the opposite. The big banks own the FED. Our country borrows money and gives it to them at 0% interest ! Here is an excerpt from a great article on the subject.

WHO OWNS THE FEDERAL RESERVE?

There has been much speculation about who owns the Federal Reserve Corporation. It has been one of the best kept secrets of the century, because the Federal Reserve Act Act of 1913 provided that the names of the owner banks be kept secret. However, R. E. McMaster publisher of the newsletter The Reaper, asked his Swiss banking contacts which banks hold the controlling stock in the Federal Reserve Corporation. The answer:

Rothschild Banks of London and Berlin
Lazard Brothers Bank of Paris
Israel Moses Sieff Banks of Italy
Warburg Bank of Hamburg and Amsterdam
Lehman Brothers Bank of New York
Kuhn Loeb Bank of New York
Chase Manhattan Bank of New York
Goldman Sachs Bank of New York.

http://www.buildfreedom.com/t...

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Steve J... to Matt 2011/08/22 13:46:46

+1
Of course that references the New York Fed.

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Linda to Matt 2011/08/23 14:35:09

Now look who's (founders) behind these banks... :-)

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Matt to Linda 2011/08/23 04:35:22

Here is why the TARP money ended up in foreign banks !

http://www.sodahead.com/unite...

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Linda to Matt 2011/08/23 14:33:13

+1
Good post, Matt! Although I like several candidates, I tend to support Ron Paul for his stand against the Federal Reserve. That private institution has been the governing financial arm and ultimate tentacled control of America since 1913, and it will be our undoing if we don't act quickly. The Dodd-Frank bill must be undone as it gives them incredible authority.

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Steve J... to Matt 2011/08/22 13:49:13

+1
Actually the money is gone into the hands of those that sold at the high price and spent it. The banks didn't get it. Maybe a tiny piece for handling the transactions as nothing more than a broker.

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Matt to Steve J... 2011/08/23 01:27:27

The banks loans were insured by FREDDIE and FANNIE, and were paid out at the original loan value, not the balance due. The banks also took possession of the houses !

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Steve J... to Matt 2011/08/23 02:26:38

And whose underwriting did they HAVE to use? BTW, the banks ONLY get the difference. They don't get the house and all the money.

Perhaps, if you did some research as to what "Guarantee" means, especially when it involves a contractual obligation.

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