Freddie Mac Lost $50 Billion in 2008
Mortgage financier Freddie Mac finished up a stellar 2008, dropping another $23.9 billion in the fourth quarter thanks to mark-to-market declines and credit-related expenses.
For the entire year, the GSE lost a whopping $50.1 billion, or $34.60 per diluted common share, compared with a net loss of $3.1 billion, or $5.37 per share, in 2007.
Freddie set aside $7.2 billion for credit losses and real estate Read more