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Fannie, Freddie Execs Defend Pay Packages
fox business ^ | 11/16/2011 | reuters

Posted on 11/16/2011 10:03:43 AM PST by tobyhill

Top executives at Fannie Mae and Freddie Mac on Wednesday defended their companies' pay practices which have drawn opposition after it was disclosed the government-controlled firms were paying out nearly $13 million in executive bonuses.

Michael Williams, chief executive of Fannie Mae, and Charles Haldeman, Freddie Mac's chief executive, both argued the compensation structures at the mortgage finance firms were warranted to retain and attract qualified staff.

A bill to block the pay packages was approved by the House Financial Services Committee on Tuesday in a 52-4 vote. The full House must still vote on the measure. A similar bill has been introduced in the Senate.

The two loss-making firms have been propped up by about $169 billion in federal aid since they were rescued by the government in 2008.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: broke; davidgregoryswife; debt; fannie; nbc4obama; nbccoverup; notaxes4ge; spending

1 posted on 11/16/2011 10:03:45 AM PST by tobyhill
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To: tobyhill
This would never happen if a Democrat was in the White House!

Oh, wait....

2 posted on 11/16/2011 10:07:21 AM PST by Cowboy Bob (Greed + Envy = Liberalism)
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To: tobyhill

Congress going to give back all the lobbying money they got from Fannie and Freddie too?

http://www.opensecrets.org/lobby/clientsum.php?id=D000000163

http://www.opensecrets.org/lobby/clientsum.php?id=D000000205&year=2008


3 posted on 11/16/2011 10:07:37 AM PST by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: tobyhill

What liars.


4 posted on 11/16/2011 10:07:58 AM PST by samtheman
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To: tobyhill

so they needed ‘quality staff’ to total the u.s. economy ?


5 posted on 11/16/2011 10:08:45 AM PST by raygunfan
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To: tobyhill
The two loss-making firms have been propped up by about $169 billion in federal aid since they were rescued by the government in 2008.

LOL! Seems to me the best talent jumped ship years ago. Now they are bent on rewarding failure.

6 posted on 11/16/2011 10:12:28 AM PST by VeniVidiVici ("Si, se gimme!")
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To: tobyhill
Qualified staff, the only people qualified at those places are the janitor staff and they are probably illegals.
7 posted on 11/16/2011 10:13:30 AM PST by org.whodat (Just another heartless American, hated by "AMNESTY" Perry and his fellow demorats.)
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To: tobyhill
I wonder how much Fag Barney Frank got with the payments under the table?Not just the Campaign Contributions... That goes for the other criminal Chris Dodd..
8 posted on 11/16/2011 10:16:59 AM PST by PLD
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To: tobyhill

Yep, attract and retain qualified staff, that’s just what Wall Street said when they were giving away millions to the very people who screwed up the MBS market. The more the merrier, I suppose.


9 posted on 11/16/2011 10:18:47 AM PST by Wolfie
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To: org.whodat

“Qualified staff...”

Meaning politically correct Democrats, of course.
Doesn’t ANYBODY follow the history of theis organization?

Democrats have raped these places for HUNDREDS OF MILLIONS


10 posted on 11/16/2011 10:22:51 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: tobyhill

OK for them, but not the banks. Nevermind that the banks actually paid back their money and haven’t required more.

Hypocritical idiots.


11 posted on 11/16/2011 10:25:41 AM PST by Raebie (WS)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks tobyhill.


12 posted on 11/17/2011 8:21:50 PM PST by SunkenCiv (It's never a bad time to FReep this link -- https://secure.freerepublic.com/donate/)
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