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| Freddie Mac Plans to Raise $5.5B McLEAN. Va. -- Freddie Mac said Wednesday that its first-quarter loss widened to $151 million as the housing market worsened, though the results were not as poor as expected, The Associated Press reported. The company, based in McLean-Va., also said that it planned to raise $5.5 billion in new capital, the AP reported. The quarterly loss at Freddie Mac was larger than a loss of $133 million in the first quarter a year ago. The results were equivalent to a loss of 66 cents a share, compared with 35 cents a share a year earlier, the AP reported. It reported a $2.5 billion loss in the fourth quarter, the AP reported. -- NYSSCPA.org News Staff Posted on 5/14/08 |
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