MONEY: Fan and Fred “leaking” wealth

Freddie Mac Posts $6 Billion Quarterly Loss by Publius

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Fannie Mae said last week it lost 3.1 billion dollars in its second quarter, and needed 1.5 billion dollars from the US Treasury to wipe out its deficit as of the end of June.

Freddie has sought more than 60 billion dollars in federal aid so far while Fannie’s bill has ballooned to more than 85 billion dollars.

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This can’t be good and needs to be addressed asap.

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