Wednesday, August 6, 2008

LOL! Those kerazy Yanks!

Freddie Mac Posts Fourth Straight Loss, Cuts Dividend

Freddie Mac, the U.S. mortgage-finance company hobbled by record foreclosures, will slash its dividend at least 80 percent after posting a quarterly loss that was three times wider than analysts' estimates. ``This correction is more severe than what we've seen in the recent past,'' said Christopher Whalen, co-founder of independent research firm Institutional Risk Analytics in Torrance, California. ``Both Fannie and Freddie are going to be profoundly insolvent by the time we're done with this.''

Posted by tyrellcorporation @ 01:38 PM (600 views)
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2 thoughts on “LOL! Those kerazy Yanks!

  • yorkshireman says:

    Fannie and Freddie are only solvent as a result of a state bailout. Power to the people ? I think not.

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  • And nobody goes to Jail – such is the corruption of our financial system.

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