April 7, 2011

Memories

Remember how we were so pissed at Wall Street and AIG for paying out bonuses after we bailed them out? Remember how Obama was going to limit executive pay for bailed-out firms?

Remember how the mis-management at Fannie and Freddie brought on the bursting of the housing bubble and precipitated the current economic slump?

According to government watchdogs at the Federal Housing Finance Agency, the chief executives of Fannie and Freddie raked in a combined $17 million in 2009-2010 — the period when the government-sponsored entities were handed over completely to federal conservators. The top six executives at the two institutions pulled in a combined $35 million over the past two years. source
I am pretty sure we will soon see The Obama, and Democrat leaders wailing in protest along with liberal bloggers about this grave injustice and waste of taxpayer money. I am sure the press will cry for prompt repayment. Busloads of SIEU workers will be chanting slogans upon Fannie/Freddie Executives' lawns and driveways. Any minute now...

I should point out for the record the Executives and board members of Fannie/Freddie are for the most part long-time Democrat insiders like Rahm Emanuel, Franklin Raines, Jamie Gorlick, and Obama advisor James Johnson. Let the outcry begin in three...two...one...
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4 comments:

  1. Anonymous4/07/2011 09:57:00 PM

    What you should point out for the record is that you think that the bonuses paid to these executives are good. It shows that anybody can get rich in the good ole USA. These executives should be lauded and admired by our youth.

    At least that's what you said about two posts ago. I would disagree, but for you, it's the getting rich part that makes us a great country. Wake up.

    ReplyDelete
  2. Joe4/08/2011 08:09:00 AM

    I have no issue with people getting rich in private industry.

    I do have issues with folks making millions off the taxpayers. That includes Fannie/Freddie and the Bailout bonuses at AIG etc.

    ReplyDelete
  3. Anonymous4/08/2011 10:13:00 PM

    It's usually one and the same. The people making the most money in "private" industry are doing it with the aid of govt help that enables them to rip off the taxpayer.

    Franklin Raines is no more of a crook than Warren Buffet. And if you think otherwise, I have a bridge I would like you to buy.

    ReplyDelete
  4. Anonymous4/08/2011 10:14:00 PM

    Oh, and I do believe that Franklin Raines is a crook.

    ReplyDelete