WASHINGTON, Nov. 3, 2015 /PRNewswire/ -- Today Freddie Mac announced a $475 million loss for the third quarter.
Investors Unite Executive Director Tim Pagliara issued the following statement and is available for interviews:
"Today's earnings announcement by Freddie Mac reinforces the need for capital at Fannie and Freddie. There will always be down quarters, and Freddie Mac has reported this as an accounting loss, not a reflection of any negative changes to its core business. The fact remains that Freddie Mac has paid back the taxpayers $96 billion after being loaned $71 billion in 2008. It's high time to end the Third Amendment Sweep so that Fannie and Freddie can begin rebuilding capital. This would protect the taxpayer, and it's also the law."
About Investors Unite: Formed by Tennessee activist investor and CapWealth Advisors Chairman and CEO, Tim Pagliara, Investors Unite (www.investorsunite.org) is a coalition of over 1,400 individual Fannie Mae and Freddie Mac shareholders from all walks of life, committed to the preservation of shareholder rights for all invested in the GSEs.
SOURCE Investors Unite