Don’t worry, be happy.
Freddie Mac yesterday reported that it lost $10 billion in the first three months of the year, as investments in mortgages continued to fall in value at the federally run housing finance giant.
The disclosure automatically prompts a $6 billion investment from the Treasury Department to keep the company solvent, bringing Freddie Mac’s bailout total to $51 billion in the first nine months of its government rescue.
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