Freddie Mac seeks $500 mln more from taxpayers
Economy • February 2011 • Views: 693
Mortgage finance giant Freddie Mac (FMCC.OB) on Thursday asked for an additional $500 million in taxpayer aid after reporting its sixth straight quarterly loss.
The second-largest U.S. residential mortgage funds provider reported a loss of $113 million in the fourth quarter, a tiny fraction of the double-digit billions the firm lost in the quarters immediately after the government seized it more than two years ago.