Freddie may draw additional $35 bln from Treasury

Discussion in 'Wall St. News' started by Cdntrader, Jan 23, 2009.

  1. Freddie may draw additional $35 bln from Treasury
    Fri Jan 23, 2009 5:05pm EST

    NEW YORK, Jan 23 (Reuters) - Freddie Mac (FRE.P), the second-largest provider of funding for U.S. home loans, on Friday said expected fourth-quarter losses may force it to draw up to $35 billion from the U.S. Treasury to maintain a positive net worth.

    The amount of the capital infusion "reflects management's current estimate of the impact on the company's net worth in the fourth quarter," Freddie Mac said in a filing with the Securities and Exchange Commission. (Reporting by Al Yoon; Editing by Dan Grebler)
  2. Why not give them their own little nice printing press?
  3. Illum


    From where comes the 35 large?

    Second part of Tarp, approved by Geitner already? Who is running this show?

    Edit - Obama making big speech today about spending bailouts wisely. Wonder if they even let him in on this? Maybe they sent him a quick email

    "We are spending 35 bill, ttyl"
  4. Lucrum


    With some of the numbers I've heard over the last 6 months, is $35B even noteworthy any more?