Freddie seeks gov't aid after $25.3B loss - WKOW 27: Madison, WI Breaking News, Weather and Sports

Freddie seeks gov't aid after $25.3B loss

WASHINGTON (AP) -- Mortgage finance company Freddie Mac says it is asking the government for $13.8 billion in aid after posting a $25.3 billion loss in the third quarter.

  The McLean, Va.-based company, seized by federal regulators more than two months ago, posted a loss Friday of $19.44 per share for the third quarter, due to a $14.3 billion charge to reduce the value of tax assets and $6 billion in credit losses due to declining market conditions.

  The results compare with a loss of $1.2 billion, or $2.07 a share, in the year-ago period.

  Analysts were looking for a loss of 89 cents per share for the latest quarter, according to Thomson Reuters.

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