Freddie Mac to ask for billions more in funds
Mortgage finance company Freddie Mac said Friday it will need an
additional $30 billion to $35 billion in government aid as it copes
with losses on loans the company backed during the U.S. housing bubble.
The
company disclosed in a Securities and Exchange Commission filing late
Friday that it expects its government regulator, the Federal Housing
Finance Agency, to make the request from the Treasury Department.
It
comes on top of the $13.8 billion the company received last year after
it was seized by the government. Sibling company Fannie Mae has yet to
request any such aid but has warned it may need to do so. [AP]