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Freddie Mac Needs ANOTHER $6.1B In Aid

Total bailout comes to $51.7 billion as mortgage financier reports a $9.9 billion quarterly loss.

By Tami Luhby, CNNMoney.com senior writer
Last Updated: May 12, 2009: 6:33 PM ET

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Quote:

With its delinquency rates rising to 2.29% in its single-family loan portfolio from 0.77% a year ago, Freddie increased its provision for credit losses to $8.8 billion, up from $1.2 billion a year ago.

NEW YORK (CNNMoney.com) -- Freddie Mac asked for another $6.1 billion in government aid Tuesday, after reporting a $9.9 billion quarterly loss.

Including the most recent request, Freddie Mac (FRE, Fortune 500) has drawn $51.7 billion of its $200 billion lifeline from the Treasury Department. Last quarter, when it reported a loss of $23.9 billion, the company asked the government for $30.8 billion.

Continues: http://money.cnn.com/2009/05/12/news/companies/Freddie_results/index.htm?postversion=2009051218

SOURCE: http://www.realityzone.com/currentperiod.html G. Edward Griffin's Site