Freddie Mac reports $4.1bn losses for Q3

The company, which had to be bailed out by the US federal government in 2008 during the financial crisis, made a loss of $6.7bn during the same period last year while it reported a loss of $6bn in Q2 this year. While the weak housing market resulted in credit losses of $3.7bn, Freddie Mac also incurred a $1.6bn dividend payment on senior preferred stock purchased by the Treasury since the financial crisis. Freddie Mac CEO Charles E. Haldeman says: "While we continue to work through credit problems in our 2005 through 2008 books of business, we remain encouraged by the slowing trend of...