Executive Compensation at Fannie Mae/Freddie Mac - crickets

Here's a prime example of the real 1%... the Political Class... the real holders of the power, money and your gonads.

When the bubble burst in 2007, Fannie and Freddie began to lose billions of dollars of investments in mortgage-backed securities (MBS) guarantees. In September 2008, the Federal Housing Finance Agency (FHFA) took Fannie and Freddie into conservatorship as a result of mounting losses stemming from the financial crisis.The Enterprises became de facto government entities, funded by preferred stock purchase agreements from the Department of the Treasury (Treasury). Today, the Enterprises remain a multi-billion-dollar drag on the federal government’s finances. Since they entered conservatorship, Treasury has provided $169 billion to Fannie and Freddie – and the payouts are scheduled to continue with no end in sight. According to recent FHFA projections, by the end of 2014, Treasury assistance to the Enterprises will total $220 billion to $311 billion.

Since the Enterprises have become government-funded entities, lavish payment packages have been doled out to their senior executives, and taxpayers have been footing the bill. In 2009and 2010, the Enterprises’ top six officers were given a total of more than $35 million in compensation. Of that amount, a total of $17 million in compensation was given to the CEOs of the Enterprises. Additional bonus installments for 2010 may still be forthcoming, and the two CEOs stand to make a total of $12 million in 2011. In addition, an executive has been awarded a substantial signing bonus – $1.7 million – upon joining the Fannie Mae. As these figures indicate, senior executives at Fannie Mae and Freddie Mac have become the highest compensated workers on the federal payroll – making as much as eight times more than the President of the United States. The executives even make more than their conservator, FHFA Acting Director Edward J. DeMarco.

http://www.scribd.com/doc/72903988/Fann ... -Committee

And the word from the Obama administration... crickets. The folks in Washington, the whole sick bunch of them, don't care a hoot about you or I. It's time to put down your partisan swords and issue a "clean sweep" of our Political Class.

Bonuses for running your company into the ground and Congress doesn't want to talk about it, because they are partially responsible.

Science Chic wrote: See, I'd put the execs in the 1% too, along with the politicians who enable this greed and corruption.

Photo from https://www.facebook.com/pages/Im-not-b ... 6533442766

Nope... the Political Class is ALL our politicians, their special interest supporters and their crony capitalist. Not every rich person, CEO, sports star, movie star, high buck entertainer etc. belong in the 1%. The only people that belong in the 1% are all politicians and those who purposely benefit from an association with them. It's not the rich against the rest of us. It's the kleptocrats, plutocrats, all politicians and friends, right, left, independent, communist, socialist... that's the 1%. We need a "clean sweep."

And the amount of crickets on 285 Bound is amazing. Come on socialists, you must be able to spin this for your Messiah Obama some how? Hey... this is your tax money too! At least say something nice about how your money has been wasted, abused and stolen by big business. Ya know... this is that 1% you're always complaining about... Obama's favorite 1%. Crickets... ha.

Sorry this isn't directly related, but enjoy anyway.
http://youtu.be/ITRPsCtqB9o

HEARTLESS wrote: Sorry this isn't directly related, but enjoy anyway.
http://youtu.be/ITRPsCtqB9o

That video is so wrong... Obama is not a cult of personality... you have to have a personality first for that to work.

He does, created by the DNC.

Science Chic wrote:

The Liberals GOP Twin wrote: And the amount of crickets on 285 Bound is amazing. Come on socialists, you must be able to spin this for your Messiah Obama some how? Hey... this is your tax money too! At least say something nice about how your money has been wasted, abused and stolen by big business. Ya know... this is that 1% you're always complaining about... Obama's favorite 1%. Crickets... ha.

Dude, seriously, we're just tired of repeating ourselves.

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Babe... seriously... I'm just tired of you're misandry. You always address your male counterparts as "dude?"