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8. Freddie Mac
Global 500 rank: 162
2007 loss ($ millions): $3,094
Ticker: FRE

One of the worst housing market downturns in American history put Freddie Mac on this year's top 10 list. The second-biggest provider of U.S. residential mortgage funding suffered as defaults on mortgages rose.

And the pain isn't over yet: Since January, shares have lost half of their value. Critics predict that Freddie Mac could be headed for a government bailout, but chairman and CEO Richard Syron is trying to persuade the company's battered shareholders that it will ride out the housing bust.

NEXT: Delphi
Last updated July 09 2008: 8:26 AM ET
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