FINANCIAL TIMES: Freddie Mac, the mortgage finance giant bailed out by the US taxpayer in 2008, is on track to pay more money to the Treasury by the end of this year than the $72.3bn it received in government aid…
Its earnings come a day after President Barack Obama threw his weight behind a political effort to wind down Freddie and its sister company Fannie Mae and to reduce the federal government’s involvement in housing finance.
Fannie, which is yet to report its second-quarter figures, has already recorded the value of its deferred taxes and paid a total of $95bn to the Treasury, versus the $117.1bn it took in bailout funds… (more)
