May 5th, 2010
05:24 PM ET

Freddie Mac to ask for $10.6 billion in additional federal aid

Mortgage giant Freddie Mac announced Wednesday that it will seek $10.6 billion in additional federal aid, according to a statement on the company's website.

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Filed under: Economy
soundoff (125 Responses)
  1. Q

    John- How sure can we be though that without the 10.6B they would completely fail? Is is a must for them, or is it a number they came up with that will enable them to more easily make profits after they pay it back?

    May 5, 2010 at 8:13 pm | Report abuse | Reply
  2. John

    Q,

    I can't answer that question honestly. But please know that it is actually the Federal Government asking for that money for Freddie as they put the prople in charge to run them in 2009. With that said, that does not make me feel completely comfortable. My point is that I would bet the 10.6 billion just in the hopes of trying to prevent an enormous economic disaster.

    I do know this, more losses will be incurred by the entire financial system, probably well over 1-2 trillion until we know the full extent of the damage that has yet to reveal itself. But I believe the alternative is too dangerous a risk. But until an appraiser, real estate agent and loan officer say, hey, this property sold for $200,000 1 year ago and now it is appraised at $300,000, is this a safe loan? We will ourhousing crises.

    Oh and finally, we need to brak up the banks, as well as Goldman and Freddie and Fannie over time. If something is too big to fail there seems one simple answer, make them smaller so they can without ruining our lives!

    Thanks!

    May 5, 2010 at 8:38 pm | Report abuse | Reply
  3. Cody

    Wow they better not get that money.. ohh damn to many people and organization in this country can lick my ba.. well you get the idea.

    May 6, 2010 at 12:44 am | Report abuse | Reply
  4. ha1ku

    All you folks on here with an opinion are wasting your time unless you write your congressman and your senators.

    Do it.

    May 6, 2010 at 2:14 am | Report abuse | Reply
  5. Clive

    Come the global revolution all
    these bailouts will stop. If they have paid ANY bonuses they deserve to go bust

    May 6, 2010 at 2:50 am | Report abuse | Reply
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