24/7 Wall St.
08-06-2008, 07:33 AM
24/7 Wall St. Daily News
Freddie Mac's (FRE) results undercut any hope that things at the quasi-governmental agency would get better soon. Actually, they were an indication that the Treasury will have to get into the act sooner and not later. The firm posted a net loss of $821 million for the quarter ended June 30, 2008, compared to net income of $729 million in the same period last year. Freddie Mac said it remain committed to raising $5.5 billion of new capital and will evaluate raising capital beyond that amount depending on the market. That means things will get worse and the $5.5 billion...http://feeds.feedburner.com/~f/typepad/RyNm?i=jQZgvK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=jQZgvK) http://feeds.feedburner.com/~f/typepad/RyNm?i=ZhPv9K</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=ZhPv9K) http://feeds.feedburner.com/~f/typepad/RyNm?i=aNS2Fk</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=aNS2Fk)
complete story here... (http://www.247wallst.com/2008/08/freddie-mac-fre.html)
Freddie Mac's (FRE) results undercut any hope that things at the quasi-governmental agency would get better soon. Actually, they were an indication that the Treasury will have to get into the act sooner and not later. The firm posted a net loss of $821 million for the quarter ended June 30, 2008, compared to net income of $729 million in the same period last year. Freddie Mac said it remain committed to raising $5.5 billion of new capital and will evaluate raising capital beyond that amount depending on the market. That means things will get worse and the $5.5 billion...http://feeds.feedburner.com/~f/typepad/RyNm?i=jQZgvK</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=jQZgvK) http://feeds.feedburner.com/~f/typepad/RyNm?i=ZhPv9K</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=ZhPv9K) http://feeds.feedburner.com/~f/typepad/RyNm?i=aNS2Fk</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=aNS2Fk)
complete story here... (http://www.247wallst.com/2008/08/freddie-mac-fre.html)