Freddie "Krueger" Mac wants another $10.6 billion

McLean, VA – Freddie Mac (NYSE:FRE) today reported a net loss of $6.7 billion for the quarter ended March 31, 2010, compared to a net loss of $6.5 billion for the quarter ended December 31, 2009. After dividend payments of $1.3 billion on its senior preferred stock to Treasury, Freddie Mac reported a net loss attributable to common stockholders of $8.0 billion, or $2.45 per diluted common share, for the first quarter of 2010, compared to a net loss attributable to common stockholders of $7.8 billion, or $2.39 per diluted common share, for the fourth quarter of 2009.

“Though more needs to be done, we are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas,” Haldeman said. “But as we have noted for many months now, housing in America remains fragile with historically high delinquency and foreclosure levels, and high unemployment among the key risks.

The collective total loss for fiscal year end 2009, 2008 and 2007 attributable to shareholders is $80 billion or $47.86 per share!!! Freddie "Krueger" Mac also requested another $10.6 BILLION from Treasury (a.k.a. taxpayer).

No America, this is not a dream; since the government took over Freddie, the U.S. taxpayer has poured $50.7 billion into Freddie. Dear Congress, it is time to kill this recurring nightmare.