Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital

[Sapiens]

http://www.bloomberg.com/apps/news?p...5Ks&refer=home

Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital (Update1)

By James Tyson

Nov. 20 (Bloomberg) -- Freddie Mac, the second-largest source of money for U.S. home loans, said its third-quarter loss almost tripled as rising home foreclosures sliced the value of its mortgage holdings.

The net loss widened to $2.02 billion, or $3.29 a share, from $715 million, or $1.17 a share, a year earlier, the McLean, Virginia-based company said today in a statement. The company said it may cut its dividend in half and has hired Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. to help it raise capital.

[DemonD]

Re: Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital

Freddie and fannie should just go the hell away. I hear the netherlands is worse tho with gov't subsidies creating hugely inflated RE values. still in a free market fannie and freddie shouldn't exist.

[Spartacus]

Re: Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital

In a free market fannie and freddie shouldn't exist.

True.

So therefore and obviously, in the US they must exist

QED