Freddie Mac asks for $30.8 billion more in aid after latest loss
(FRE) continues to lose money at an alarming rate and has asked the federal government for an additional $30.8 billion to fund its activities.
The mortgage finance company today reported a net loss of $23.9 billion, or $7.37 a share, for the quarter ended December 31, 2008. That compares with a net loss of $25.3 billion, or $19.44 per share, for the quarter ended September 30, 2008. Freddie lost a whopping $50.1 billion last year.
