Freddie Mac Shows Signs of Improvement

Freddie Mac, one of the companies that is most commonly blamed for the current sour economic condition of the United States, showed signs of improvement in the second quarter. While the company remains a long way from being able to repay the $51 billion in federal government bailout money it has received since September of 2008, Freddie Mac finally has some numbers to be moderately happy about.

Last year in the second quarter, Freddie Mac last more than a billion dollars. This year, they lost $374 million. However, that includes dividends payments to the federal government. Prior to those payments, Freddie Mac would have earned more than $750 million in the quarter.

Revenue was an even better sign for the company. Last year at this time, Freddie Mac had revenue of about $1.6 billion. In the last quarter, their revenue was all the way up to $7.5 billion — an improvement of nearly $6 billion.

The best news for the American public? Freddie Mac doesn’t need any more bailout money at this point in time. That said, experts believe that the company will eventually need more money from the federal government.

Freddie Mac (Image: Flickr)