I just doesn't end - Fannie and Freddie

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Pigeon
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I just doesn't end - Fannie and Freddie

Post by Pigeon » Tue Nov 15, 2011 3:50 pm

NEW YORK (CNNMoney) -- Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.

The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011.

That's a total of $95.4 million, which will essentially be coming from taxpayers, who have been keeping the mortgage finance giants alive with regular quarterly cash infusions since the Federal Home Finance Agency (FHFA) took control of the companies in September 2008.

Fannie CEO Michael Williams and Freddie CEO Charles Halderman, each received about $5.5 million in pay for last year, and they could receive more when their final deferred compensation for 2010 is set. All the executives receive a significant portion of their pay in the year or years after they earn it.

http://money.cnn.com/2011/11/15/news/co ... ce=cnn_bin

Cue the capitalism supporters that think there is nothing wrong with men who fail at their job being given this level of
reward. Get it before it is gone.

Congressional rating: .25%

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Egg
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Re: I just doesn't end - Fannie and Freddie

Post by Egg » Tue Nov 15, 2011 3:54 pm

There are more people complaining about OWS than about this. It makes me sick.


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Pigeon
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Re: I just doesn't end - Fannie and Freddie

Post by Pigeon » Tue Nov 15, 2011 4:02 pm

Let's face it, most of the populace just isn't very intelligent or aware. Many think stopping the rip off will cost them money. They got it backwards. They need to realize they are watching their future swirl in the bowl.

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Egg
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Re: I just doesn't end - Fannie and Freddie

Post by Egg » Tue Nov 15, 2011 4:07 pm

As long as they are stuffing there fat faces they don't care.


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Pigeon
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Re: I just doesn't end - Fannie and Freddie

Post by Pigeon » Tue Nov 15, 2011 4:11 pm

Every article on the web about Congressional law making should play a sound of a toilet flushing.

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