red states rule
05-29-2011, 06:39 AM
Pres Bungle is once again showing his disregard for how hard the folks work to pay those taxes the government sucks out of you paycheck
Now we see another example of the waste in governemnt
Also where is the liberal media on this? The liberal media was otraged over bonus money going to Wall St execs - but I guess they are fine with bonus money going the Government Execs
Does anyone think Fannie and Freddie are doing a good job, and the people running decerve a bonus?
The Obama administration's approval of $34.4 million for six top officials, with little or no market guidance, is raising new questions about the inner workings of the failing mortgage giants. John Solomon and Julie Vorman, of the Center for Public Integrity's iWatch News, report.
Over the last two years, the Obama administration has approved a whopping $34.4 million in compensation to the top six executives of the financially troubled Fannie Mae and Freddie Mac mortgage giants, and lacks the necessary protections to ensure such compensation is even warranted.
The largesse flowed to the six executives even though the two companies they run struggle to staunch billions of dollars in losses, remain in government conservatorship, and must compensate taxpayers for assuming the companies’ liabilities during the mortgage crisis. To compensate taxpayers, Fannie and Freddie are tapping Treasury Department funds to pay required 10 percent dividends each quarter to the U.S. government.
“The need for effectiveness, integrity, and transparency in [the Federal Housing Finance Agency's] programs and operations cannot be overstated,” said Inspector General Steve Linick, a former Justice Department prosecutor confirmed by the Senate last year to watch over federal housing programs. “Fannie Mae and Freddie Mac have received almost $154 billion in taxpayer funding to support the still-fragile housing market. In addition, they own or guarantee about $5.4 trillion in residential mortgage obligations.”
http://www.thedailybeast.com/blogs-and-stories/2011-05-26/fannie-freddie-execs-paid-34-million-after-billions-in-losses/?cid=hp:mainpromo8#
Now we see another example of the waste in governemnt
Also where is the liberal media on this? The liberal media was otraged over bonus money going to Wall St execs - but I guess they are fine with bonus money going the Government Execs
Does anyone think Fannie and Freddie are doing a good job, and the people running decerve a bonus?
The Obama administration's approval of $34.4 million for six top officials, with little or no market guidance, is raising new questions about the inner workings of the failing mortgage giants. John Solomon and Julie Vorman, of the Center for Public Integrity's iWatch News, report.
Over the last two years, the Obama administration has approved a whopping $34.4 million in compensation to the top six executives of the financially troubled Fannie Mae and Freddie Mac mortgage giants, and lacks the necessary protections to ensure such compensation is even warranted.
The largesse flowed to the six executives even though the two companies they run struggle to staunch billions of dollars in losses, remain in government conservatorship, and must compensate taxpayers for assuming the companies’ liabilities during the mortgage crisis. To compensate taxpayers, Fannie and Freddie are tapping Treasury Department funds to pay required 10 percent dividends each quarter to the U.S. government.
“The need for effectiveness, integrity, and transparency in [the Federal Housing Finance Agency's] programs and operations cannot be overstated,” said Inspector General Steve Linick, a former Justice Department prosecutor confirmed by the Senate last year to watch over federal housing programs. “Fannie Mae and Freddie Mac have received almost $154 billion in taxpayer funding to support the still-fragile housing market. In addition, they own or guarantee about $5.4 trillion in residential mortgage obligations.”
http://www.thedailybeast.com/blogs-and-stories/2011-05-26/fannie-freddie-execs-paid-34-million-after-billions-in-losses/?cid=hp:mainpromo8#