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New York

Freddie Mac posts $50B loss

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Freddie Mac had a net loss of $50.1 billion in 2008, almost half of
which occurred during the fourth quarter after the federal
government’s takeover of the mortgage financing company. The net loss
in the fourth quarter was $23.9 billion. In 2008, Freddie Mac
purchased or guaranteed more than $460 billion in mortgage loans and
securities.