Freddie Mac disclosed yesterday that it would ask for up to $35 billion in additional taxpayer dollars, eating up roughly half of the funds the government has pledged to keep the mortgage giant on firm financial footing.

The announcement was the latest sign that the takeover of Freddie Mac, and that of its sister company, Fannie Mae, were growing more costly than had been anticipated. Freddie Mac already has drawn on about $14bn in taxpayer cash.

Washington Post (Sat)