Freddie Mac’s $4.8bn loss deals fresh blow to US housing market (Times Online Sunday)

Story date: 2007-11-20 02:40:12
Added on: 2007-11-20 18:00:10

The credit squeeze will tighten significantly after Freddie Mac, America’s second-biggest provider of mortgage financing, announced its largest quarterly loss on the back of $4.8 billion (£2.33 billion) of bad debts and writedowns in the third quarter.


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