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. Chris

    Freddie Mac is in bed with the liberal junkies. Of course they will get the aid.

    May 5, 2010 at 7:18 pm | Report abuse |
  2. Ben

    Not giving money to Freddie launch us into a full blown recession.

    For those Obama haters, please remember that is was under the prior admninistration when Fannie Mae and Freddie Mac were put under government conservatorship. That was an essential move. Bush did the right and needed thing then.

    For all the Bush haters. Obama will probably do this if needed.

    This was not a democrat or republican issue.

    Freddie Mac and Fannie Mae should not have been allowed to get so large in the first place. but those decisions were made and adhered to over several administrations. It cannot be done overnight in the midst of a continuing financial crisis.

    May 5, 2010 at 7:18 pm | Report abuse |
  3. Chris

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

    Because you don't harass your friends you are in bed with.

    May 5, 2010 at 7:19 pm | Report abuse |
  4. Chris

    "Not giving money to Freddie launch us into a full blown recession."

    Nope... better check facts again. It might be wise to not get info from MSNBC. They tend to lie.... just like the Government.

    May 5, 2010 at 7:20 pm | Report abuse |
  5. Q

    I really hate this "too big to fail stuff." This company is asking for its second multi-billion dollar bailout. And people are saying that we can't afford not to do it because this company must not fail.. They already have failed!

    May 5, 2010 at 7:20 pm | Report abuse |

    This company is stock piling houses and homes that can be sold to families by using a different system of lending. These homes are valued for $70,000 and less. This will reduce the burden of warehousing these vacant homes and give a lot of people the opportunity to purchase who couldn’t ordinarily get a bank or regular mortgage loan. Let regular Joe/or Sarah be your bail out by selling the houses that aren’t sold within 4 months of reclaiming them. This way, you generate thousand’s of dollars without squandering tax payer’s dollars. Set up three categories and place the homes on a fast track payment, such as a house for $10,000.00 should be paid for in 5 years, $25,000.00 in 10 years or refinanced and etc,

    May 5, 2010 at 7:22 pm | Report abuse |
  7. O1

    unemployed, benefit ran out 6 weeks ago, nearly homeless, Maybe with my $6, I could buy a bank. Them I might get recognized!!!!

    May 5, 2010 at 7:24 pm | Report abuse |
  8. ithinkformyself


    May 5, 2010 at 7:25 pm | Report abuse |
  9. LucyRicky

    I agree with most of the posters – NO – NO – N0 Have Franklin Raynes pay back some of the millions he made to shore up those bad mortgages. Why aren't they being investigated just like Goldman Sachs? Makes you wonder doesn't it?????

    May 5, 2010 at 7:26 pm | Report abuse |
  10. John


    you are referring to a 1099-A, which Congress passed a law in 2004 (I believe) rescinding tax liability on the part of the mortgagor. The major concern for mortgagors now are Deficiency Judgments, which are the difference between the debt owed and the sun received via foreclosure. In some states, this judgment is automatically created by the bid (referred to as Non-Judicial states), while Judicla states usually require more expense and efffort to obtain said judgment. That is usually determined by the servicer.

    May 5, 2010 at 7:26 pm | Report abuse |
  11. ithinkformyself

    If Fannie and Freddie get more money before Tier 5 unemployment is passed I predict a bloodbath in the November polls for democrats!

    May 5, 2010 at 7:27 pm | Report abuse |
  12. DurE

    Don't give them the money. Let them sink or swim just like we have to.

    May 5, 2010 at 7:29 pm | Report abuse |
  13. Dixiesam

    Obama's last day......1/20/2014

    May 5, 2010 at 7:29 pm | Report abuse |
  14. areyoucrazy

    Let them sell the mortgages for 10cents on the dollar

    May 5, 2010 at 7:30 pm | Report abuse |
  15. Q

    What does a lending company failing to take care of themselves have to do with Obama?

    May 5, 2010 at 7:31 pm | Report abuse |
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