Skip to comments.(Obama Supporters) Fannie, Freddie execs score $100 million payday
Posted on 11/15/2011 4:32:12 AM PST by tobyhill
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.
(Excerpt) Read more at money.cnn.com ...
100 Million Man March on D.C.
And just why don’t these corrupt-morons send me some of their bonus money to make up for what I lost when their worthless stock tanked? Waiting... These shameless bums should be in prison.
...same as before, they in turn reward people for remaining silent.....the rat money laundering scam.
How about this...close them down, fire everyone, and manage the worthless paper empire from the Treasury.
these orgs have always been a place to reward supporters that have no real marketable skills and allows them to keep the bundling operation going during the lean years. Non-profits provide the same service, only to a lesser degree for lower dollar donors.
bring the pitchforks!
Something is fundamentally wrong here.
Where are those smelly and diseased raping Occupiers now???
AP via Fox News ^ | November 03, 2011 | Associated Press
Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter.
Freddie Mac said Thursday that it lost $4.4 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in the same quarter of 2010.
This quarter's $6 billion request from taxpayers is the largest since April 2010.
(Excerpt) Read more at foxnews.com ...
These are the people the OWS need to protest, Fannie, Freddie, Chris Dodd, and Barney Frank. But no, they are too stupid and too well indoctrinated to even know who is behind the worsening conditions for decent jobs in this country.
The execs of MF Global also got bonuses the day before the bankrupcy was announced.
Wall Street did get bonus with TARP money as well, the story is bigger than just Wall Street. Besides, the idiot OWS don’t seem to know that Wall Street gave MORE money to Ozero than any other campaign. They should be protesting in front of the White Hut.
Yes, there most certainly is something wrong here, it’s called Fascism. The well connected get the spoils, and the rest of us pay for it.
I’m sorry, but isn’t it bad enough that the government OWNS more than 90% of ALL mortgages in this country?
Don’t you realize that the housing market HAS now been NATIONALIZED????
Don’t hear that in the news, do you?
I find it disgusting. WE are already in a Nationalized Fascist state, brought to you buy the demonrats, and the Rino’s.