Freddie Mac posts fourth straight quarterly loss

08/6/2008 | Reuters

Freddie Mac reported an $821 million second-quarter loss, compared with a $729 million profit in the second quarter of 2007. Over the past four quarters, the company has suffered through losses of more than $4.6 billion. Along with the results, Freddie Mac affirmed plans to raise $5.5 billion in new capital, explained that it would cut its common stock dividend and warned of continued difficulties ahead.

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