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Freddie Mac Loses $4.4B in Third Quarter, Requests $6B More From Treasury
Published November 03, 2011

WASHINGTON –  Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter.
Freddie Mac said Thursday that it lost $4.4 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in the same quarter of 2010.
This quarter's $6 billion request from taxpayers is the largest since April 2010.

Freddie's losses are increasing mainly for two reasons: Many homeowners are paying less interest because they are able to refinance at lower mortgage rates. And failing and bankrupt mortgage insurers are not paying out as much money when homeowners default.
The government rescued McLean, Va.-based Freddie Mac and sibling company Fannie Mae in September 2008 after massive losses on risky mortgages threatened to topple them. Since then, a federal regulator has controlled their financial decisions.
Taxpayers have spent about $169 billion to rescue Fannie and Freddie, the most expensive bailout of the 2008 financial crisis. The government estimates it could cost up to $51 billion more to support the companies through 2014....................>>>>.................>>>>>..................Read more: http://www.foxnews.com/politic.....asury/#ixzz1cpvFK8G4

WTH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

HAHAHAHAHAHAHAHAHAHAHAHAHAHA......SOOOOOOOO F'EN TRUE IT'S SAD...............................WE MAY NOT HAVE THE WORDS BUT WE HAVE THE INTERNET.......ain't they just schmucks....

Sure we will give them the $$$...........they'll just print more!!

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Fannie, Freddie
abuses detailed
    WASHINGTON — A government watchdog said Fannie Mae and Freddie Mac improperly foreclosed on homeowners and cost the government billions of dollars by not holding major banks to strict underwriting requirements.
    The report released Tuesday also said the Federal Housing Finance Agency gave “undue deference” to Fannie and Freddie offi cials and didn’t scrutinize more than $35 million in bonuses and compensation to Fannie and Freddie executives.
    FHFA’s inspector general had previously released each of the findings on an individual basis. But the semi-annual report to Congress sketched a portrait of abuse at the two mortgage giants that the government failed to stop.
    Fannie, Freddie and the FHFA didn’t respond to the report. But they have responded to similar allegations in previous reports.
    Fannie and Freddie own or guarantee about half of U.S. mortgages, or nearly 31 million loans. The Bush administration seized control of the mortgage giants in September 2008.

http://www.dailygazette.net/De.....r00702&AppName=1

Privatize both Fannie and Freddie and get the government the he** out of the housing business. The government has proven that they don't have a clue  how to deal in real estate and mortgages.

Quoted from Shadow

Privatize both Fannie and Freddie and get the government the he** out of the housing business. The government has proven that they don't have a clue  how to deal in real estate and mortgages.

oh, but the government has learned something from McDonalds.....they will charge ALL OF US $0.10 on the dollar so that fannie and freddie get the toy.......

we get wound up over and over and over again just for their entertainment......