Freddie may draw additional $35 bln from Treasury

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Freddie may draw additional $35 bln from Treasury
Fri Jan 23, 2009 5:05pm EST


NEW YORK, Jan 23 (Reuters) - Freddie Mac (FRE.P), the second-largest provider of funding for U.S. home loans, on Friday said expected fourth-quarter losses may force it to draw up to $35 billion from the U.S. Treasury to maintain a positive net worth.

The amount of the capital infusion "reflects management's current estimate of the impact on the company's net worth in the fourth quarter," Freddie Mac said in a filing with the Securities and Exchange Commission. (Reporting by Al Yoon; Editing by Dan Grebler)
 
From where comes the 35 large?

Second part of Tarp, approved by Geitner already? Who is running this show?

Edit - Obama making big speech today about spending bailouts wisely. Wonder if they even let him in on this? Maybe they sent him a quick email

"We are spending 35 bill, ttyl"
 
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