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Freddie Mac posts $4.6 billion profit
http://www.usatoday.com/story/money/business/2013/05/08/freddie-mac-earnings/2143835/WASHINGTON (AP) — Mortgage giant Freddie Mac earned $4.6 billion January through March, helped by a stronger housing market.
The government-controlled company has now turned a profit in its past six quarters.
Freddie said Wednesday that it paid a dividend of $7 billion to the U.S. Treasury from its first-quarter earnings and requested no additional federal aid. The earnings compared with net income of $577 million in the first quarter 2012.
The government rescued Freddie and larger sibling Fannie Mae during the financial crisis after both incurred massive losses on risky mortgages. Taxpayers have spent about $170 billion on them, costliest bailout of the crisis. So far, the companies have repaid a combined $62.2 billion.