Skip to comments.Republican Senator Calls on Obama to Cancel Fannie Mae, Freddie Mac Bonuses
Posted on 11/01/2011 6:18:49 PM PDT by ColdOne
A Republican senator is calling on President Obama to cancel the $12.8 million in bonuses that were approved for 10 executives at the government-seized mortgage giants Fannie Mae and Freddie Mac that received a $170 billion taxpayer-funded bailout.
I am calling on the president of the United States to cancel those bonuses and explain to the American people, the taxpayers who bailed out Freddie and Fannie, why he continues to reward failure, Sen. John Barrasso, R-Wyo., said at a news conference Tuesday.
The two housing giants have received about $141 billion in taxpayer funds since the government took them over in 2008 during the financial crisis.
Politico first reported the $6.46 million in bonuses for the top five officers at Freddie Mac -- including $2.3 million for CEO Charles E. Haldeman Jr., who is stepping down next year -- and $6.33 million for Fannie Mae officials, including $2.37 million for CEO Michael Williams, for meeting modest goals.
A second bonus installment for Freddie executives in 2010 has yet to be reported to the Securities and Exchange Commission, Politico reported
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Occupy the White House!
Occupy the White House!
These asshole republicans admit to the premise by responding. The Constitution is meaningless.
I’d prefer to cancel Obama.
You mean the Occupy Wall Street dolts are fine with this?
They must be.
I applaud the Senator but why are they not asking for full investigation and prosecution of those in charge of this mess before it all imploded?
It is obvious to anyone with a pulse that the very prominent leftists in charge of these Gov’t Supported Entities cooked the books to receive gigantic bonuses and it certainly made the resulting economic crash much worse.
The statute of limitations is 5 years on these crimes. Why has there been no public accounting? Where is the house oversight committee on this?
The housing collapse and all these toxic mortgages cost the entire world hundreds of billions of dollars and the damage continues. Where is the GOP Congressman with enough intestinal fortitude to give the American people answers? Why are they not screaming about the mega-millions bonus club that ran the housing market off a cliff?