US mortgage giant Freddie Mac saw a loss of $8bn (£5.3bn) in the first three months of 2010 and said it would ask for a further $10.6bn in state aid.
The firm has made a number of federal cash requests since it was taken over by regulators in September 2008.
And it said it would continue to need government funds with the US housing market not yet fully recovered.
The new request brings the total cost for rescuing Freddie Mac to $61.3bn.
How does one get to be president of Freddie Mac and get paid $million$ of Dollar$, have huge losses and have the Feds cover those losses?
This is evidence that the American education system has failed to educate. An educated society would erupt in such a way as to shut government down and demand an accounting and solutions.
This makes the “Teapot Dome Scandal” look like a difference of opinion at a ladies aid society meeting.
Don
Re #1
Don,
Teapot Dome: I’ve always though Harding got a raw deal. Not saying he was a great president. But he wasn’t nearly as awful as most historians have made him out to be.
In our case it should be the Congress, in particular Barny Frank.
The Danes are back for more gold.
Congress ought to regulate itself before it regulates anything else.