Freddie Mac loses $7.8B in 4Q

Source: AP via Yahoo! News

WASHINGTON – Freddie Mac lost $7.8 billion in the final three months of last year, but the mortgage finance company didn't need a federal cash infusion for the third quarter in a row.

Freddie Mac, which has been controlled by federal regulators since September 2008, lost $2.39 a share, the company said Wednesday. The loss included $1.3 billion in dividends paid to the Treasury Department, which has an almost 80 percent stake in the McLean, Va., company.

The results were a marked improvement over the fourth quarter 2008 when Freddie lost $23.9 billion, or $7.37 a share.

During the most recent quarter, Freddie suffered $7.1 billion in credit losses and a $3.4 billion write-down in low income tax credit investments. That move "increases the likelihood" that the company will require more cash from the Treasury Department, the company warned in a regulatory filing.

Read more: http://news.yahoo.com/s/ap/20100224/ap_on_bi_ge/us_earns_freddie_mac

It is now a US government agency. There is no equity left.

Just get out our checkbook, or don't you guy's remember what the pricks(our government) did in December.

That sounds good, I'll take three to go please :beer: