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Freddie Mac Takes Another $146 Million

Anthony Randazzo
March 12, 2012, 9:09am

Freddie Mac reported Friday it needs $146 million from the U.S. taxpayers to remain solvent going into 2012. The government-sponsored enterprise realized a net loss of $5.3 billion for 2011, and asked for a total of $7.656 billion from the Treasury Department to cover those losses. Like its sister mortgage failure Fannie Mae, were Freddie Mac a normal American company it would be declared bankrupt and either shut down or split up and sold off (with the notable exception of GM, Chrysler, AIG, commercial banks, and investment banks). 

In total, Freddie Mac has received $71.346 billion in bailout money from the U.S. Treasury since FHFA took the GSE into conservatorship in late August 2008. Here is the most recent breakdown of taxpayer quarterly checks for Freddie Mac:

Late last month, Fannie Mae announced it wanted $4.6 billion more from the taxpayers, putting its total losses at $116.2 billion. (See full details here.)

That means the combined bailout for Fannie and Freddie has reached $187.5 billion.

See our comments on Freddie Mac's third quarter 2011 earning statement.

See our full coverage on Fannie Mae and Freddie Mac here.

Anthony Randazzo is Director of Economic Research

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