http://communities.washingtontimes.com/neighborhood/middle-class-guy/2011/nov/2/freddie-macs-and-fannie-maes-obscene-bonus-plan/

 

Fannie and Freddie received 169 billion dollars in government bailouts after the mortgage crash. A crash many say they were involved in. It is projected that taxpayers may be on the hook for between 50 and 142 billion dollars more over the next few years.

 

Fannie and Freddie received bailouts. Their fat cat executives are getting obscene bonuses. Can anyone smell the stench of hypocrisy? Or do olfactory senses go dead when Fannie and Freddie are involved?

 

12.79 million dollars in bonuses will be doled out to ten executives. This cash cow was approved by the Federal Housing Finance Agency. FHFA is the government agency that regulates Fannie Mae and Freddie Mac.

 

The reasons for the bonuses? The ten executives were responsible for modest performance in mortgage modification to stem foreclosures. These ten executives will be paid over one million dollars each for mediocrity.

Here is the thing with this one, and my conservative brethren will berate me: its too late to be objecting, if you want to remain truly conservative. The time to object and scrutinize was BEFORE written contracts were entered into to pay these people the money. If we let government intrusion into the situation destroy validly entered into contracts, we have become what we hate. If we want to fire the people that entered into the contracts for bad business decisions, fine. But we can't take the money. To do so would sanction government intrusion into any privately entered contract, private sector or otherwise.

They should not be bailed out.

Here is the thing with this one, and my conservative brethren will berate me: its too late to be objecting, if you want to remain truly conservative. The time to object and scrutinize was BEFORE written contracts were entered into to pay these people the money. If we let government intrusion into the situation destroy validly entered into contracts, we have become what we hate. If we want to fire the people that entered into the contracts for bad business decisions, fine. But we can't take the money. To do so would sanction government intrusion into any privately entered contract, private sector or otherwise.

 

That's great, but I'd still love some legitimate explanations as to why these scumbags -- and thousands of other scumbags across the country in CEO jobs doing nothing but getting paid at an obscene rate for shipping jobs overseas, or better yet, causing their companies to fail -- deserve their salaries to begin with.

 

If you conservative types want to know why all those dirty hippies are upset, it's because of the system that conservatives just nod their heads at while cashing their dividend checks instead of crying foul (mostly because it's an incestuous system of cronyism) because it's flat-out wrong and unethical, the way it is now.

 

Mark my words -- greed will cause this country's implosion. That, or the Second Amendment Choir will finally get wise and figure out who the real enemy is, and march on boardrooms.

Jim, are you saying the govt should cap salaries?

 

P.S. People are not getting rich off of dividend checks.

Jim, are you saying the govt should cap salaries?

 

P.S. People are not getting rich off of dividend checks.

 

To your question, no. All I'm asking is for some responsibility on the parts of these wonderful corporations, rather than continuing to feed this ridiculous system of cronyism.

 

To your PS, I would ask, why the hell aren't these shareholders speaking up, then?

To your question, no. All I'm asking is for some responsibility on the parts of these wonderful corporations, rather than continuing to feed this ridiculous system of cronyism.

?

 

So who decides then in your opinion?

To your PS, I would ask, why the hell aren't these shareholders speaking up, then?

 

Most shareholders do not really care what CEOs are making. We're all selfish. We just want our shares to appreciate. I've mentioned that I own shares in Apple. No clue what Jobs made nor do I care. Heck, my profit says he's worth it.

So who decides then in your opinion?

 

I don't know. I don't think I want the government to decide, either, but at what point does the system keep breaking down before those in the private sector acknowledge and address it?

 

Most shareholders do not really care what CEOs are making. We're all selfish. We just want our shares to appreciate. I've mentioned that I own shares in Apple. No clue what Jobs made nor do I care. Heck, my profit says he's worth it.

 

And that just further backs up my statement that greed will cause this country's implosion. If people, as you state, aren't getting rich off their shares, why do they continue to let this broken system go on and not address the pay these scumbags are stealing (not earning, of course)?

 

And that just further backs up my statement that greed will cause this country's implosion. If people who, as you state, aren't getting rich off their shares, why do they continue to let this broken system go on and not address the pay these scumbags are collecting (not earning, of course)?

 

I shall assume you're not an investor. I say that because of you "aren't getting rich off their shares.." comment. If the company performs well investors do profit from their shares in the form of increased value. Some companies are good at paying dividends (very safe investments) while others are not much on dividends but big on growth ie increased profits which often times lead to increase in share price which means money in my pocket should I choose to sell.

 

Greed is always a balancing act. We certainly need some common sense laws/rules in place. That's what we're missing now on Wall Street in some areas. Unfortunately, those areas have helped contribute to our crappy economy.

I shall assume you're not an investor. I say that because of you "aren't getting rich off their shares.." comment. If the company performs well investors do profit from their shares in the form of increased value. Some companies are good at paying dividends (very safe investments) while others are not much on dividends but big on growth ie increased profits which often times lead to increase in share price which means money in my pocket should I choose to sell.

 

Greed is always a balancing act. We certainly need some common sense laws/rules in place. That's what we're missing now on Wall Street in some areas. Unfortunately, those areas have helped contribute to our crappy economy.

 

I have a 401k, but there ain't much in it (thanks, Wall Street!).

I have a 401k, but there ain't much in it (thanks, Wall Street!).

 

Usually 401k plans offer options. If you're not big on Wall St go with the most conservative option. However, history says you'll be behind in the long run.

If you conservative types want to know why all those dirty hippies are upset, it's because of the system that conservatives just nod their heads at while cashing their dividend checks instead of crying foul (mostly because it's an incestuous system of cronyism) because it's flat-out wrong and unethical, the way it is now.

 

Yeah, I just can't help but have it in the back of my head that you didn't like the tea party? This is one of the biggest reasons as to why the formed. So quit acting like conservatives are applauding this. Remember, the GOP had less votes for a bailout than the dems.

Yeah, I just can't help but have it in the back of my head that you didn't like the tea party? This is one of the biggest reasons as to why the formed. So quit acting like conservatives are applauding this. Remember, the GOP had less votes for a bailout than the dems.

 

Democrats, Republicans, doesn't matter. All contribute to the fact the system is broken.

This is another example of why smaller goverment is needed. Without programs like this you have less bureaucracy to cause problems.

The free market allowed those who could qualify to buy homes for most of our history as a nation.