end the insanity!!!!!!!!!:>(
Freddie Mac, still suffering from the lax mortgage-lending practices of the housing boom, reported a loss of $23.9 billion for the fourth quarter and said it will need a $30.8 billion injection of capital from the U.S. Treasury.
The government-backed provider of funding for home mortgages also said it expects its provisions for losses on mortgage defaults to remain high this year.
Freddie's quarterly loss compares with a loss of $2.45 billion a year earlier.
Freddie Mac, still suffering from the lax mortgage-lending practices of the housing boom, reported a loss of $23.9 billion for the fourth quarter and said it will need a $30.8 billion injection of capital from the U.S. Treasury.
The government-backed provider of funding for home mortgages also said it expects its provisions for losses on mortgage defaults to remain high this year.
Freddie's quarterly loss compares with a loss of $2.45 billion a year earlier.