Freddie Mac Suffers $2 Billion Third Quarter Loss, Forcing GSE to Raise Capital and Slash Dividend
November 30, 2007
A record $2.0 billion loss for the third quarter is forcing mortgage finance giant Freddie Mac to sell $6 billion in preferred stock and slash its dividend in half in an effort to bolster its capital – the first cut since the company went public in 1989. Freddie Chairman...