Freddie Mac (FRE) Sinks On $2B Loss, Chance of Dividend Cut

Freddie Mac (NYSE: FRE) is down 17% in pre-open trading after the company reported an enormous third quarter loss of $2 billion or $3.29 per share.

Freddie Mac also said it engaged Goldman Sachs and Lehman Brothers as financial advisors to help it consider very near term capital raising alternatives and is seriously considering reducing its fourth quarter common stock dividend by 50 percent.

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