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. JC

    Good lord-NO!!!!! FM has already been given way too much and we have no idea what it has been spent on. Why should we bail it out some more. I say NO! cut your management salaries which I am sure are still way over rated and way above their employees wages. Give up a few bonuses-instead put that bonus money back into the company. Anything but asaking us to give you more $.

    May 5, 2010 at 6:11 pm | Report abuse |
  2. jslsampson

    THE CNN IS MY NO:1 CHANNEL ESPECIALLY IN THE NEWS AROUND THE WORLD I REALLY CHOOSE ( CNN)

    May 5, 2010 at 6:13 pm | Report abuse |
  3. Of Course

    Freddie got caught hoolding the bag...it wasn't THEM that did the lending!!! The loans that are failing were backed by Freddie.

    Come on! Get real people! There are people besides Freddie that brought this situation to a head: homebuyers that knew they couldn't afford the loans, lenders, members of the House and Senate that pushed for more loans to take place, appraisers, etc.

    Real estate was too good to be true for a few years there....the realists saw it while others whistled dixie.

    May 5, 2010 at 6:15 pm | Report abuse |
  4. SA

    This is very disturbing. I know someone just graduating from college who is being hired by Freddy Mac and they are giving him a sign on bonus. I am glad he has a job, but I don't agree with the bonus if this organization is continuing to borrow money from the taxpayers.

    May 5, 2010 at 6:17 pm | Report abuse |
  5. fred_bilson

    They have to bail them out. The government owns the entire residential mortgage market. No bailout then no more residential home sales except with cash. Translation = much lower housing prices. IT looks like bank profits are artificial too according to Merideth Whitney – http://www.socialnews.biz/MarketsGloom. So we may yet need to revisit private banks too.

    May 5, 2010 at 6:17 pm | Report abuse |
  6. Valuation collapse

    Hate the idea of another bail out for these guys...but if you let them fail, housing and apartment building values will plummet because of it, both still artificially inflated due to govt backed debt availability.

    May 5, 2010 at 6:17 pm | Report abuse |
  7. Avs

    Understand- the agencies (Freddie and Fannie) is now 95% owned by the US Govt. Hence- the tax payer owns the agencies. The govt' will make about $8,000,000,000 from the Citi "bailout" alone. Not bad huh! BTW- only and I mean only...Freddie and Fanny are buying mortgages. They will not be turned down.

    May 5, 2010 at 6:17 pm | Report abuse |
  8. mike

    educate yourselves people..Freddie goes down...things get worst...if you support Freddie going away your just a victim of spin (media and political). And Robert if people are being hired to help homeowners then that's a good thing. I very much doubt that there is any overhead at Freddie that is not part of a program to keep people in their homes...smh people.

    May 5, 2010 at 6:19 pm | Report abuse |
  9. Richard

    If the U.S. to bail them out, we'll be the joke of the world. and we'll be laughed at.
    We are such a hypocritical nation, claiming to be the champion of free market capitalism,
    and preaching to other countries of this and that, including human rights.
    For example, who are we to lecture about human rights when a little less than 40 years ago,
    the U.S. was conducting disgusting acts such as segregation against African Americans.
    As an American, I really feel we talk alot, but don't walk the talk.

    We never hold incompetece accountable..Btw..Why don't we demand a war crimes tribunal against GW Bush ? He an his gov't lied to us, and deceived us.
    There were no WMD. We invaded a foreign sovereign country, and caused chaos and upheaval on the Middle East on completely false claims. Obama's people should demand a tribunal.
    Our policies, both economiic and foreign, since GW Bush days, are making going to make
    the U.S. a has-been joke of the world. All talk but no walk.

    May 5, 2010 at 6:20 pm | Report abuse |
  10. fed up

    What difference does it make WHO is responsible when we all know that nothing will actually be corrected and no-one will actually be held accountable. Are we actually supposed to make sense out of this and just carry on as usual!

    May 5, 2010 at 6:20 pm | Report abuse |
  11. brian

    Fannie and Freddie are supporting the entire mortgage market. They guaranteed 70% of all home loans in 2009, and do so at very strict credit requirements. Without them, no one would be able to buy a house unless you wanted to pay cash. This is not a Lehman, AIG type situation

    May 5, 2010 at 6:20 pm | Report abuse |
  12. housing_crisis

    I think this is a pretty good take on the housing crisis and where the blame lies – http://nune.ws/9O8. This guy thinks it has to do with underwriting rather than goldman, fannie or otherwise. Some good points.

    May 5, 2010 at 6:20 pm | Report abuse |
  13. Chris

    Canadain here and my 2 cents is there still exists a lot of hidden debt before the USA gets it's feet back on the ground and citizens should undertand that they the tax payers are going to have to share the pain and tha's the bottom line. At close to 13 trillion in debt you can't hide, rather it's time to stick togethe to make and accept change. My personal opinion I would not invest a dime in any stock market in any country, prefer to invest in myself!

    May 5, 2010 at 6:23 pm | Report abuse |
  14. Madam Patriot

    I have two family members who work at Freddie Mac. They still have their on-site daycare, gym, art classes, and all of their retirement funds. I lost my job in the mortgage industry in November 2009 when my employer laid off 30% of their mortgage business workforce. I hope that Freddie doesn't get a dime.

    May 5, 2010 at 6:23 pm | Report abuse |
  15. fed up

    AVS since the people are the govt. I'd like my share of the $8000,000,000 please so that I can make a down payment on a house.

    May 5, 2010 at 6:24 pm | Report abuse |
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