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Freddie Mac in more losses as head predicts new slump

Posted on November 3, 2010 by Kendall Harmon

US mortgage agency Freddie Mac has suffered a further $4.1bn (£2.5bn) loss on bad home loans in the past quarter.

Meanwhile its head predicted “renewed pressure” on the US housing market.

“We believe it will be a considerable time before the housing market has a sustained recovery,” said chief executive Charles Haldeman.

Read it all.

Posted in * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Economy, House of Representatives, Housing/Real Estate Market, Office of the President, Personal Finance, Politics in General, President Barack Obama, Senate, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government

2 comments on “Freddie Mac in more losses as head predicts new slump”

  1. Br. Michael says:
    November 4, 2010 at 12:01 am

    No surprise here. I would really, really like to see an independent (free from political influence) investigation of what happened.

  2. David Keller says:
    November 4, 2010 at 1:15 am

    And Chuck Schummer and Barney Frank were re-elected overwhelmingly. Go figure. At least Chris Dodd had the “grace” to bow out.