Mortgage giant Freddie Mac reported a $5 billion net income for the second quarter of this year — the second-largest profit in its history — and says it will pay a dividend of $4.4 billion to the U.S. Treasury. So far, Freddie Mac has paid back $41 billion of what it owes to taxpayers.
It still owes $30 billion more, and company officials say it hopes to continue paying that down this year
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Freddie Mac came under federal conservatorship in 2008 during the financial crisis.
Just like the man looking for his keys, President Obama is trying to solve the wrong problem by calling, as he did in his speech in Phoenix, for the end of Fannie Mae and Freddie Mac as we know it.Read the story of a Good Samaritan walking down the street one evening spotting a man on his hands and knees patting the ground.
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