If Fannie Mae and Freddie Mac are govt. owned, why does the govt. REWARD THEM FOR FAILURE?
These two GSE’s lost 0 billion in 2009.
Why does the tax payer have to fork over multi-million dollar **bonuses** on top of that??
http://www.fitsnews.com/2009/12/24/big-bonuses-for-fannie-freddie-ceos/
The CEO’s of government-owned mortgage giants Fannie Mae and Freddie Mac could receive executive compensation packages totaling as much as million, according to documents filed with financial regulators Thursday.
Another ten employees at the two government agencies are in line for bonuses totaling million.
Together, Fannie and Freddie have availed themselves of over 0 billion in federal bailout cash since they were seized by the government fifteen months ago.
http://www.reuters.com/article/idUSWBT01345620091224
http://www.reuters.com/article/idUSTRE5BN2ZI20091224
WASHINGTON (Reuters) – The Obama administration pledged on Thursday to back beleaguered mortgage finance giants Fannie Mae and Freddie Mac no matter how big their losses may be in the next three years.
America’s Sweetheart…."Because they are not Government owned."
Then how would you describe a relationship in which the GOVT eats ALL the losses?
Tagged with: bailout • ceo • ceos • dollar bonuses • executive compensation packages • fannie freddie • fannie mae • fannie mae and freddie mac • fifteen months • finance giants • financial regulators • Freddie Mac Questions • government agencies • gse • losses • mortgage finance • quot • reuters • sweetheart • tax payer
Filed under: Freddie Mac Questions
Like this post? Subscribe to my RSS feed and get loads more!
Because they are not Government owned.
Our government is riddled with hypocrites
Ask Barney Frank and his boyfriend.
The truth?
Because we the people lack the power to stop them.
The very people responsible for allowing these to fail are still in Congress. What else could we expect?
Your question answers itself. Government owned and rewarded for failure is redundant. Look at Obama. Look at the many people who choose welfare instead of work, and I don’t mean the ones that really need it.
You pretty much answered your own question… it’s government. How many government employees do you know that have been fired? Hell, the SEC people who fell asleep at the switch keeping an eye on big Democratic Party donor Bernie Madoff haven’t been fired. Unbelievable.
Fannie and freddie bribe congress with a lot of YOUR money (they call them campaign contributions). Barny received a lot of money from them.
Holder was on one of the boards and made Millions for doing nothing!
Some politicians wouldn’t see this as failure. The goal was to increase homeownership, so they could take credit for it in their campaigns. From this perspective, they see this as legitimate use of taxpayer money.
Ah, the good ole double standard of government.
In essence…I guess we can take from this that if you fail on your own, no one cares, no one helps, your alone in the world, but if the Government does the same, then its "too big to fail" or they grow it so it becomes too big to fail, and thus just another vehicle for the government to steal from you wallet and justify it.
Government caused this problem, they should be made to suffer because of it, not the citizens.
They all need to either do thier job or get fired, they need to do more with less, or do without. It hasn’t been the citizens asking for the government to shell out money like a drunk sailor to every miscreant asking for it…we as individuals are expected to be more responsible than that.
Oh, I guess except for the losers that bought more house than they could afford or really put themselves in major debt as a result of loan makers laxing the standards because Obama and Acorn attacked them for not doing so years ago.
What’s that old saying…….sow the wind….reap the whirlwind ?
Only problem is….like a good little brain-washed socialist he is, Obama is trying to spread the pain to those of us that did everything right. And those that should bear the majority of this pain probably won’t learn a damn thing and will repeat thier stupidity in the future.
I would say stupidity. And the fact that the government were to blame for the failure. Barney Frank , Waters, San Fran Nan, and a few others on the finance committee could see nothing wrong with what fannie and freddie were doing. In fact they said the paper that freddie and fannie insured up to six times by different people was good. Would you not think if you had a property insured six times over its value that if it failed you might take a hit.