Posted on 07/02/2009 3:12:06 PM PDT by bintenn
Freddie Mac Gets Another $6.1B from Gov't
BY STEPHEN BERNARD | AP Business Writer You have entered an invalid email address From (email):* Required
NEW YORK (AP) - Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
The company could also be close to naming a new, permanent CEO, according to a report in The Wall Street Journal.
The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage firm's liabilities exceeded its assets by more than $6 billion, according to the filing with the Securities and Exchange Commission.
After drawing the funds, Freddie Mac has now received $51.7 billion from the Treasury Department and still has access to an additional $149.3 billion to help it finance operations.
(Excerpt) Read more at memphisdailynews.com ...
Correction: “Loans” = “Funding”
I may just sit down and cry. I can’t take much more of this.
Pass the tissues; I’m with you!
Every DAY the Poser in Chief and our retarded Congress does something to screw us over! Every DAY for six months now!
Why, Oh, WHY won’t the economy just CRASH so we can get this over with and get ON with our lives?
Not ONE penny more from me. Not ONE!
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