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Tuesday, November 20, 2007

Freddie Mac Visits the Confessional

by Calculated Risk on 11/20/2007 09:09:00 AM

From the PR:

Freddie Mac today reported a net loss of $2.0 billion, or $3.29 per diluted common share, in the third quarter of 2007, compared to a net loss of $715 million, or $1.17 per diluted common share, for the same period in 2006. The company also reported a decrease in the fair value of net assets attributable to common stockholders, before capital transactions, of approximately $8.1 billion for the third quarter of 2007, compared to an increase of approximately $300 million for the same period in 2006.
Ouch.