Login
ISCOVER
Freddie Mac, the second largest home loan provider in the United States, has delivered a fourth quarter loss of US$23.9 billion (A$36.7 billion), marking further bad news for the US financial system.
The result follows a similar US$25.3 billion (A$38.9 billion) loss recorded for the third quarter last year and brings its net annual loss to US$50.1 billion (A$76.9 billion).
As a result of the losses the lender, which is currently operating under government conservatorship, has now requested a US$30.8 billion (A$47.3 billion) lifeline from the government.
