"Virginia-based Freddie Mac reported a net loss for the first quarter that widened to $7.98 billion or $2.45 per share from $7.8 billion or $2.39 per share in the year-ago period on continued weakness in the housing market. The company also said it was pressing for an additional $10.6 billion in federal funding to stay afloat in the fragile credit environment."
http://www.dailymarkets.com/releases/2010/05/11/senate-rejects-republican-backed-plan-for-fannie-mae-freddie-mac/
Boy I really am glad that the government has rescued the housing market. It is due for a turnaround. All it needs is about 16 billion more dollars to stay afloat in this environment.
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I'm glad we have such intelligent people solving our national crisis. They really know how to make something worse.
ReplyDeleteGiving money and power to government is like giving whiskey and car keys to teenage boys.
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