Skip to comments.Report: Managers at Fannie, Freddie earned $200K
Posted on 12/10/2012 10:52:07 AM PST by massmike
A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year.
The Federal Housing Finance Agency, which oversees the two mortgage giants, also did an inadequate job monitoring pay, according to the report released Monday from the inspector general for the FHFA.
The median figure means that half the managers received salaries above $200,000 and half received less.
Compensation for senior managers at the companies cost about $455 million in 2011, according to the report.
Taxpayers so far have paid roughly $170 billion to rescue Fannie and Freddie, which suffered huge losses from risky mortgages during the 2008 financial crisis.
(Excerpt) Read more at bostonherald.com ...
Mel Brooks had it right decades ago.
Max Bialystock: You were saying that under the right circumstances, a producer could make more money with a flop than he could with a hit.
Leo Bloom: Yes, it’s quite possible.
Max Bialystock: You keep saying that, but you don’t tell me how. How could a producer make more money with a flop than with a hit?
Leo Bloom: It’s simply a matter of creative accounting. Let us assume, just for the moment, that you are a dishonest man.
Max Bialystock: Assume away!
This administration is slowly working its way towards Public Banker Floggings in RFK Stadium.
The last series of GSA bailouts will pale in comparison to the fleecing we're ready to experience.
Jamie Gorelick, Franklin Raines, and some other thug, cleared TENS of MILLIONS of dollars each, from the mortgage scam.
They all belong in jail, along side Dodd, and Frank.
GS 14,15 make on the high side of 150k with their benefits, bonuses.
There are over 8600 of them just at the Commerce Dept.
Which is a small dept compared to most.
Wow is this a government money laundering project.