March 11, 2009

Freddie Reports $23.9 Billion Loss

This is ridiculous. Freddie and Fannie and most of the auto industry and banking industry are simply bleeding out, we simply can't prop them up. We put the tourniquet on, it didn't work. Stop wasting resources on the dead.

via Wall Street Journal on 3/11/09
Freddie Mac reported a deep loss for the fourth quarter and said it will need a $30.8 billion injection of capital from the U.S. Treasury.

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