After $23.9 billion losses Freddie Mac asks for more government money

After reporting a huge loss of $23.9 billion, or $7.37 a share, in the fourth quarter Freddie Mac said on Wednesday that it is applying for additional billions of the government support. In a previous quarter the mortgage company posted a net loss of $25.3 billion.

The Federal Housing Finance Agency, which oversees Freddie, appealed to the Treasury Department to ask for extra $30.8 billion which it expects to receive in March. Earlier in January the company said that it is planning to ask the government for $30 billion to $35 billion after a preliminary evaluation of its fourth-quarter results.

By the moment Treasury have already pumped about $15 billion into Freddie and after the latest investment, the government's preferred equity stake will be $45.6 billion, the company said.