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. Randy

    Why yes Freddie Mac we will give you all you want thats our goverment

    May 5, 2010 at 6:37 pm | Report abuse |
  2. Pete

    Why is it that the banks get a government bailout to cover their loses yet homeowners who lose their house to foreclosure receive a 1099 and end up owing the government? This is ridiculous you're either wiped out into chapter 7, or if you're lucky enough to walk away from you're upside down mortgage without filing for bankruptcy landed with a huge tax liability. While everyone's at fault for the housing bubble only the banks get off scott free. The homeowners are left hanging out to dry.

    May 5, 2010 at 6:38 pm | Report abuse |
  3. jason

    they will give them the money because barney frank is in charge of that bank. the gov goes after every bank but that one. wow how can people not see how corrupt this regime is

    May 5, 2010 at 6:40 pm | Report abuse |
  4. volkan2

    Eagle,

    That is true. But does it not operate in the jungle of Wall street? Or am I missing something?

    May 5, 2010 at 6:41 pm | Report abuse |
  5. Chas T

    1. If the government does NOT give Freddie Mac the money, they may go out of business. Who cares? Not I. The homeowners will still have their homes. Just no one to collect the monthly payments.

    2. If the government DOES give Freddie Mac the money, it should be on the condition that the top 100 people working for Freddie Mac be fired and that the top 100 consultants with contracts with Freddie Mac have their contracts terminated.

    May 5, 2010 at 6:43 pm | Report abuse |
  6. creditindustryworker

    pete

    not everyone is gettin foreclosed on banks are offering every avab program there is the hamp short sales payments programs etc the last thing as a bank we want to do is foreclose on a home the only time we foreclose is when there is no option left due ur income being cut so much that u cant even afford the the lower pymnts an if u refuse the short sale or any of the other programs ..... alot of the times ive seen my self ppl who couldnt afford their house pymnts askin for a mod but at the same time they have a yacht an they wanna eat out all the time an not change their lifestyle to thier income level

    May 5, 2010 at 6:48 pm | Report abuse |
  7. BlindGuyNAR

    Great idea. Give a loan to a bunch of people we already know don't know how to give loans themselve.

    Freddie Mac = FAIL

    May 5, 2010 at 6:56 pm | Report abuse |
  8. I wonder

    NO! NO! NO! Until they can demonstrate some responsible financial prowess and accountability don't give them another dime of MY money. Why in the world would you give (yes, give not lend) money to someone who cannot pay it back???? Only the government would do that. If the govt was consitutionally required to show a profit each year that wouldn't happen. Good grief. Goood grief. Gee. Can't imagine why folks are upset. Beat the snot out of Goldman for irresponsibility. They are rookies compared to congress and this administration. And yes, Bush gets some of the "credit" for this disaster, but we had several good years under him. Thiings went south when the demos took over congress. Good grief. Good grief.

    May 5, 2010 at 6:56 pm | Report abuse |
  9. justin

    let em fail, I vote them the worst company ever

    May 5, 2010 at 6:59 pm | Report abuse |
  10. Billy M. from MI

    I am a Democrat and like what Obama has acheived so far, but I must say if they go through with this bailout, it WILL cost Democrats in November.

    May 5, 2010 at 7:05 pm | Report abuse |
  11. Greg

    Why do Gov employees get pensions and guaranteed retirements? No private sector company (other than the failed car companies) offer pensions because they are no longer sustainable. Yet 80% of all Gov workers at the fed, state and local level are on rich pension plans. Doesn't it worry / bother people in the private sector that have to pay these pensions with their tax dollars? These pensions are going to balloon like GM's and when it is time for the private sector worker to retire they won't be able to because they'll have to support hundreds of thousands of Gov workers retiremet!

    May 5, 2010 at 7:06 pm | Report abuse |
  12. Ror

    Why not bailout the stressed taxpayer instead of these fat cat financial instutions
    and their super fat cat CEO's for a change

    May 5, 2010 at 7:07 pm | Report abuse |
  13. Atila

    Rake back the 42 mil in bonuses and congressional compensation before giving any consideration to any more bail outs. The leadership of this country, eg. Bernanke & Geithner must be flipping insane.

    May 5, 2010 at 7:12 pm | Report abuse |
  14. Jeff

    Why aren't they being called to capital hill to explain their recklessness?

    May 5, 2010 at 7:15 pm | Report abuse |
  15. Feddie UP

    Barney Frank is the root cause of the first disaster....remove him from office

    May 5, 2010 at 7:16 pm | Report abuse |
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