Thread: Freddie Mac admits it will never pay tax payers back.

March 12 (Bloomberg) -- Freddie Mac, the U.S. mortgage- finance company seized by regulators six months ago, said it needs more financial help from the government and raised doubts about its ability to become profitable again.

Freddie’s decision yesterday to tap an additional $31 billion in aid in return for preferred stock will raise its annual dividend payment to the Treasury to $4.6 billion, a figure the McLean, Virginia-based company said may be beyond its means.

“This dividend obligation exceeds our annual historical earnings in most periods, and will contribute to increasingly negative cash flows in future periods,â€

Freddie Mac said it needs more financial help from the government and raised doubts about its ability to become profitable again.

Wants more money yet doesn't know if it will become profitable??? I don't think so!!!

let them hang..NO MORE MONEY