Tuesday, December 11, 2007

Another jolt for Ben

Freddie Mac sees $12bn credit hit

Freddie Mac, the company that provides financing to US mortgage lenders, has become the latest firm to admit to higher losses in the sub-prime crisis. It now expects $10bn (£4.89bn) to $12bn in credit losses on its mortgage book, its chief executive told investors.

Posted by alan @ 05:43 PM (539 views)
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