Skip to comments.More big paydays at Fannie, Freddie
Posted on 01/02/2011 9:14:42 AM PST by FromLori
The housing recovery has stalled, but the gravy train rolls on for the government-appointed saviors of the housing market, Fannie Mae and Freddie Mac.
The top executives of the taxpayer-backed companies stand to make millions of dollars in salary, deferred pay and long-term incentive awards for 2010 including substantial sums that are performance-based, at least in name.
Fannie (FNMA) CEO Michael Williams and Freddie (FMCC) chief Charles Haldeman each stand to make some $6 million this year, going by company filings that broadly outline 2009 pay and 2010 guidelines.
Using the same data and assuming no one got a pay cut -- we can't risk having the talent leave, after all -- their top lieutenants could make between $2 million and $3 million each.
This for a year in which the companies saw their shares delisted from the New York Stock Exchange, posted $28 billion in losses through three quarters and ran their tab at Treasury to a startling $150 billion. Your taxpayer dollars at work.
(Excerpt) Read more at finance.fortune.cnn.com ...
...we can't risk having the talent leave...
If it wasn't so serious it would be downright laughable.
“...we can’t risk having the talent leave...
If it wasn’t so serious it would be downright laughable.”
lol I’m laughing anyway otherwise I would cry we are looking at $6.3 Trillion in GSE’s that was kept out of obama’s budget, it’s the same crap they told us about the masters of Wall Street and the $23.7 Trillion Bail Out.
The list, ping
Let me know if you would like to be on or off the ping list
Yes but if it wasn't kept out of the budget how could we even think about "affordable" and "free" health care? /s
Sometimes I think I am due to wake up from a nightmare and join reality again.
Talent on loan from the Devil.
The Triumph of Propaganda
The American Thinker ^ | January 02, 2011 | Nemo Almen
Posted on January 2, 2011 7:40:01 AM AST by Scanian
It is not difficult to deprive the vast majority of independent thought.[i]
Does anyone remember what happened on Christmas Eve last year? In one of the most expensive Christmas presents ever, the government removed the $400 billion limit on their Fannie and Freddie guaranty. This act increased taxpayer liabilities by six trillion dollars
Thank you for posting that I was looking for that article and couldn’t seem to find it.
I'd hate to see what incompetence would accomplish.
I think you are more sarcastic than I am. I didn’t know that was possible.
Prostitutes provide more talent than these ho’s.
That’s me, raising the bar in all the wrong places. ;)
The most disturbing, frustrating, infuriating thing about this is that as a country we’ve reached the point where there’s no doubt what’s going on, but somehow we are powerless to stop it. And there there’s Congress that just goes on spending and borrowing and printing. Everyone knows exactly what they’re doing, and how disastrous it will be, but no one can stop it.
It’s like we’re on a party bus that’s careening down a mountain road with no brakes. Everyone on board knows what’s going to happen, but since the outcome is inevitable they choose to spend their last minutes partying. All the rest of us are at the bottom of that mountain, where the bus will crash, taking us with those who caused the runaway bus in the first place.
So true I hate it but as you said we have not been able to change it and though I still continue to vote, call, write, etc. and will do so to the end I have come to the conclusion one should prepare for the worst.
Buy hard assets like Gold, Silver, Land, etc. & maybe, some bullets.
Probably too late for the Gold & Silver trade... given the the rise in commodities. Lead Bullets are still cheap!
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