Nice work if you can get it - quite the 'performance' bonus
From
FOX News:
Republican Senator Calls on Obama to Cancel Fannie Mae, Freddie Mac Bonuses
A Republican senator is calling on President Obama to cancel the $12.8 million in bonuses that were approved for 10 executives at the government-seized mortgage giants Fannie Mae and Freddie Mac that received a $170 billion taxpayer-funded bailout.
�I am calling on the president of the United States to cancel those bonuses and explain to the American people, the taxpayers who bailed out Freddie and Fannie, why he continues to reward failure,� Sen. John Barrasso, R-Wyo., said at a news conference Tuesday.
The two housing giants have received about $141 billion in taxpayer funds since the government took them over in 2008 during the financial crisis. Sen. Spencer Bachus, R-Ala., is pushing a bill to suspend pay packages at Fannie and Freddie and require executives and employees of government-sponsored enterprises to be paid according to the federal pay scale.
Quite the bonus -- all they did was crash the housing market and the people most affected were the lower-income people who were hardest hit. To even consider this after the government bailout shows how out of touch they are...
Posted by DaveH at November 2, 2011 12:28 PM