Forum Post: Fannie and Freddie Execs paid themselves million dollar bonuses with Bailout money
Posted 12 years ago on Nov. 1, 2011, 11:47 a.m. EST by MikeyD
(581)
from Alameda, CA
This content is user submitted and not an official statement
I don't suppose that aggravates anyone here.
How about this. They are still lending money with 3.5% down on houses that will be worth 5% less in 6 months, creating more foreclosures in 12 months.US government(taxpayers) have already given (without repayment) $160 Billion that could have been spent on health care, education, and a variety of other things.
I don't suppose that aggravates anyone here either.
Fight for #2. Target Barney Frank and Chris Dodd for DEFEAT in the next Election. They started the Home Mortgage Crisis and protected bad banks. more is on: http://fuzzythinker.WebStarts.com/ows-_fighting_points.html
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A movement to defeat Dodd is in full-swing. Rumors say he will retire from congress. Join and have an easy victory under your belt.
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They will be aware of what happens if they don't. Everyone wants to get re-elected once they have tasted the Washington Kool-Aid.
I've never understood why anyone at Fannie or Freddie is paid more than the president of the US. Fannie and Freddie exist only because of the implied government guarantee, which essentially makes it a government institution. It is our money that they use to make loans. The employees and managers of Fannie and Freddie are civil servants.
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http://online.wsj.com/article/SB10001424052970203914304576628873340076918.html
Five Groups Who Should be Mad at Wall Street by BRETT ARENDS "5. Anyone investing in banks You have to laugh when people slam "greedy" Bank of America. Have you seen the stock price lately? For stockholders, this is a nonprofit. The only ones making money are the management and staff.
It's the same at all the other banks. In the past five years, public filings show, the employees of Goldman Sachs have pocketed $80 billion in pay and benefits, including bonuses and other goodies. Over the same period, stockholders have lost $25 billion."
Of course it aggravates me. We need to kick out anyone who supported any bailout and stop encouraging politicians to support wall street with our money.