[cobra de capell]

March 11 (Bloomberg) -- Freddie Mac, the mortgage-finance company thrust into a leading role in President Barack Obama’s homeowner rescue plans, said it will tap $30.8 billion in federal aid as deterioration in its loan holdings led to a record loss.

The company, which owns or guarantees more than 20 percent of U.S. home loans, today reported a wider fourth-quarter net loss of $23.9 billion, or $7.37 a share. The results pushed the value of Freddie’s assets below its liabilities, the McLean, Virginia-based company said in a statement, and come as Chief Executive Officer David Moffett leaves after six months on the job.
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The results pushed the value of Freddie’s assets below its liabilities

Therefore, Freddie Mac is technically bankrupt, except it can now look to the government for $30 Billion to keep going. This is the agency the barney has protected throughout the years; this is the agency that is suppose to help out homeowners with 'good deals' to avoid foreclosure.

Geez, we are in a world of poop.