Freddie Mac Predicts $5.5 $7.5 Billion More Losses For The Year

AP:

The chief executive of Freddie Mac estimated Tuesday the mortgage finance company will lose an additional $5.5 billion to $7.5 billion over the next few years as the housing crisis worsens and home-loan defaults rise.

The government-sponsored company has already logged about $4.5 billion in projected losses during the first nine months of this year.

"I honestly think it's going to get tougher before it gets better," Richard Syron, the company's chairman and CEO, said in a discussion with financial analysts in New York.

Read the whole story: AP

Comments

[ErnestineBass]

02:13 PM on 12/11/2007

Evolution In Economics 101:

1) Introduction to Free Market "Principles"
2) Deregulation and the Free Market
3) "Building" A Service Industry Economy
***A) Conscripted Military Service - Pros and Cons
***B) Education - "Who Deserves Access?" - Pros and Cons
4) The Media's Role in the Free Market
5) A CEO's Guide to Hiring Loyal Servants
6) Serf's "Rights"

[studlyguy]

01:20 PM on 12/11/2007

and the walls keep tumbling down , and the american government is still trying to fool the general public that everything is hunky dory amazing ,were headed for a depression ,coming sooner rather then later,fed actions will mean nothing printing worthless money like paper mill is just going to make it much much worse ,blethering idiots their dirty deeds years of Greenspan policies ,and now Bernanke are coming home to roost, but their trying to forestall it but it isn't going to work the damage has been done