Freddie Mac has requested an additional $10.6 billion from the federal government. The housing finance company, which has already received $50.7 billion from the Treasury Department, has just reported an $8 billion quarterly loss. But the company’s chief executive, Charles Haldeman Jr., isn’t letting this entirely dampen his spirits, explaining: “We are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas.” [AP via NYT]
Expect detours and delays around the GWB approaches. Use alternate routes.