WHAT THE?! Bonuses Expected at Fannie, Freddie!

WHAT THE?! Bonuses Expected at Fannie, Freddie!

online.wsj.com

Fannie Mae is due to pay retention bonuses of between $470,000 and $611,000 this year to some executives, despite enormous losses at the government-backed mortgage company. Fannie's main rival, Freddie Mac, also plans to pay such bonuses but hasn't yet provided details.

Fannie's bonuses are smaller than ones paid by American International Group Inc. that have caused a political firestorm for that company.

(visit the link for the full news article)

I wish i could say i was surprised, i really do ... it's truly sickening knowing how some of the taxpayers money is being spent ... nothing like paying the people who dug the country in the hole to keep doing it! i just don't understand why the government won't do anything about any of this stuff ... oh wait that's right they're corrupt! (most are at least)

thoughts?

online.wsj.com
(visit the link for the full news article)

AH!

Oh and don't forget the news that Citigroup may spend $10 million for Executive Suite.

And you have to read for yourself Citigroup's rationale for doing it

Citigroup said in a statement that the construction is part of a global space-saving initiative. The bank plans to reduce its office space worldwide by more than 10 million square feet to help save $15 billion over the next few years, according to a company official who declined to be identified.

After AIG, this is no big surprise. I expect that we will see big bonuses given out to all the executives of every company that got a bailout. Is this what the bailout was about....PAY CHECKS?

Just my 2-cents

I heard about this yesterday.

And, these days, nothing surprises me.

Hell, it wouldn't surprise me if Congress voted to give themselves a big bonus for all the hard work they've done to improve things. :shk:

reply to post by skeptic1

Hell, it wouldn't surprise me if Congress voted to give themselves a big bonus for all the hard work they've done to improve things.

They will get their big fat raise - because I bet they will all be voted back into their positions instead of voted OUT (fired).

reply to post by greeneyedleo


But, of course. Reality does not touch these people.

I am still wondering where the Ethics Committees in the House and Senate are. It is obvious that these idiot's constituents are asleep in the voting booth, so maybe the Ethics Committees need to step in. They won't.....but, we can dream.

Yeah but let's see if Obama acts surprised and outraged after the payout is made. At least this time the MSM knows about the bonuses beforehand.

In all honesty I'm willing to believe that these guys are all getting their bonuses because they did a wonderful job of doing exactly what they planned and were told to do. Destroy the US economy.

Either that or the bonuses might be to shut them up lest they speak out on the subject.

Honestly, I just don't want to have to think that these people are THAT corrupt, ignorant, arrogant and all around stupid.

These bonuses were geared into the origional TARP legislation.

thomas.gov

(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.

source=porkulus.butasforme.com

So everyone jump in! It's time to take the money and run! Get your bailout bonus checks while you can!

Everything must go! Get your bonus checks before the SHTF and we all end up in jail next to Madoff!

reply to post by whatukno


oh you have got to love politicians,
and their greedy ways...