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08/09/08
Freddie posts 4th straight quarterly loss and slashes dividend
Filed under: General, Mortgages
Posted by: Lillian Wong @ 7:48 pm

NEW YORK (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), one of the major players in the U.S. mortgage market, on Wednesday posted its fourth straight quarterly loss as it braced for a prolonged housing market slump by setting aside twice as much money for bad loans and cutting its dividend by at least 80 percent.  more…

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