Loss: $50.1 billion
Being the smaller "toxic twin" didn't protect Freddie Mac from the mortgage-market carnage. In fact, Freddie gave its bigger sibling a run for its money when it came to 2008 losses.
Though Fannie and Freddie aren't allowed to guarantee subprime mortgages, Freddie bought some securities backed by the low-quality loans for its own portfolio - and paid the price. It reported $16 billion in realized and unrealized losses on a $75 billion subprime portfolio in 2008, as delinquencies hit an eye-popping 38%.
Losses like those forced Freddie to get $14 billion in new capital from Uncle Sam in 2008, while big sister Fannie didn't need new money until this year. And the federal funds - Freddie has since asked for $31 billion more - come with a hefty price tag: a 10% annual dividend rate that will weigh on Freddie's profits even when good times return.
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