Freddie Mac posts $5 billion loss - Yahoo! News

Freddie Mac posts $5 billion loss - Yahoo! News: "NEW YORK (Reuters) – Freddie Mac (FRE.N) (FRE.P), the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a 'prolonged deterioration' in housing." I'm sure Barney Frank and gang will bail these guys out again. If you are poor and want your own house, don't bother going the traditional methods, such as HUD or Habitat for Humanity, you'll just get a poor man's house going that route. You need to go to the bank and say Barney sent you and voila, you have a mortgage (optional to pay back) for a $250,000+ house. And just for kicks, we (American Taxpayer) will throw in $8000 (costs us only $24000)!