Freddie Asks Government for $19M More in Aid

Freddie Asks Government for $19M More in Aid


Freddie Mac only wants $19 million this time.

4th quarter 2011 it was $146 million.

At least it's getting better.

Government-controlled mortgage giant Freddie Mac is requesting $19 million in additional federal aid after posting a loss for the first quarter of this year.

The requested amount is less than the $146 million that Freddie received from the government for the fourth quarter of 2011. The company received $7.6 billion for all of 2011 and $13 billion for all of 2010.

McLean, Va.-based Freddie Mac said Thursday that its net loss attributable to common stockholders was $1.2 billion, or 38 cents a share, in the January-March period. That compares with a net loss of $929 million, or 29 cents a share, in the first quarter of 2011.

Gamblers Unanimous !

Fannie and Freddie buy home loans from banks and other lenders, package them into bonds with a guarantee against default, and then sell them to investors around the world. When property values drop, more homeowners default, either because they are unable to afford the payments or because they owe more than the property is worth. Because of the guarantees, Fannie and Freddie must cover the losses.

Another Bright Idea

I think every cent requested from the government, by financial industries, should go to the student loan issue. I'd rather bail out the future of the United States than a cancer infecting it.

Originally posted by TheOneElectric
I think every cent requested from the government, by financial industries, should go to the student loan issue. I'd rather bail out the future of the United States than a cancer infecting it.

That's a good point. I tend to agree.

But remember that all those thieves and vermin are college graduates too.

Intellectuals and professionals have been responsible for every major social and financial disaster and boondoggle for at least the last few hundred years.

reply to post by xuenchen


To a certain extent, you're right. We have been the reason for many of the world's problems. However, do you know why? It's a vicious cycle. The poor gain some foothold and sacrifice everything that they have to better their children and tell them to "succeed no matter what, let no one stand in your way." We allow ourselves to believe that getting to the top or having things is the point of life...I'd be confused if society wasn't the way it was now with the mindset we all are indoctrinated into having.

I do believe there is balance to be found somewhere: It's good to have things, but it's also good to help people too. Selfishness is overrated, and respectful fun is the goal.

One day..maybe...but until then don't give a cent to those fat cats. Just remember the youth, don't let them become the money grubbing parasites that manipulate society. Instead of whispering "boot straps" to their suffering and tortured souls...extend a hand...and so help me, they may just pass on that sentiment to those in need when they are in power.