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Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:12:04 PM   
Nosathro


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Joined: 9/25/2005
From: Orange County, California
Status: offline 		Fannie Mae and Fredie Mac Excutives rewarded themselves with bonus totaling $100 Million, were did the money come from, the taxpayers. Recently the same Fannie Mae wanted $7.9 million more to cover recent losses, this is in addition to the $179 Billion the largest sum for a company in the Bail out


http://finance.yahoo.com/news/fannie-freddie-executives-score-100m-105300790.html

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:21:18 PM   
Lucylastic


Posts: 40310
Status: offline 		its fucking obscene, no one, but no one deserves or rates a million in bonus's
I dont give a shit about the political bullshit
this is nothing short of raping and fucking the 99%
assholes wankers, dickwads and douchecanoes, fuckem
the sooner this buillshit is stopped the better.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:40:08 PM   
kalikshama


Posts: 14805
Joined: 8/8/2010
Status: offline 		Playing devil's advocate here:

http://finance.yahoo.com/news/fannie-freddie-executives-score-100m-105300790.html

The Democrat-controlled Senate Banking Committee also plans to hold a hearing on the matter on Tuesday. Additionally, the Republican-controlled House Committee on Oversight and Government Reform is set to call Edward DeMarco, the acting director of FHFA, and the CEOs of the two firms, to a hearing on the pay packages on Wednesday.

Sixty senators from both parties have already sent a letter to DeMarco asking that he change the compensation policy of the two companies. FHFA has final say on pay at the two companies.

"The idea that Fannie Mae and Freddie Mac, which rely on taxpayer funding to stay afloat, must offer excessive bonuses to its executives to attract effective management strains credulity," the letter said.

DeMarco responded to the senators saying that the executives who were running the companies in 2008 when the problems occurred have left without any golden parachutes, and that effective management is needed to make sure that taxpayer losses at the firms do not rise and the companies continue to function. He said current executive pay at the firm is about 40% less than before the bailouts.

"I need to ensure that the companies have people with the skills needed to manage the credit and interest rate risks of $5 trillion worth of mortgage assets and $1 trillion of annual new business that the American taxpayer is supporting," he wrote.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:42:35 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		We need to put in place some "regulations" limiting executive compensation.Yet I seem to be hearing over and over again how we need to get rid of regulations,how they are stifling the creation of jobs.....now if only I could remember where I keep hearing this claptrap












Oh wait,it just came to me.....the Republican debates

< Message edited by slvemike4u -- 11/15/2011 12:43:07 PM >

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:46:44 PM   
Lucylastic


Posts: 40310
Status: offline 		yes I read that Kali... personally pumping up a reward for fixing the clusterfuck is just feeding the pigs who think they deserve it for doing their job.
they thought they had people with the skills before hand, sposing this bunch dont do anything better, can they not have their reward given ONCE the compny has proven itself to be "too big to fail"?
holding a company to ransom for millions is still obscene.
I really do get the need to "get the best people" but considering the clusterfuck in the financial business world, are any of them competent, let alone worth hundred of millions.


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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:52:59 PM   
tazzygirl


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Joined: 10/12/2007
Status: offline 		Isnt this the same thing we were bitching about when the corporations started giving out bonuses... and we were told by the republicans that it was needed to attract the better management teams?

I dont like it now, I didnt like it then, but to have a conservative complaining about this while he had no compulsion to complain about the others getting theirs... hypocritical.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:54:34 PM   
slvemike4u


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From: United States
Status: offline 		Especially in light of the conservative mantra that regulations are at the root of the economies problems.

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If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4


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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 12:59:19 PM   
Lucylastic


Posts: 40310
Status: offline 		its shown that no regs means that the greedy piggies get bigger and fatter and fuck over the end consumer or their staff who dont have stocks.


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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:04:32 PM   
tazzygirl


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Status: offline 		In the end, its revolution when people cannot afford to live anymore.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:08:23 PM   
LillyBoPeep


Posts: 6873
Joined: 12/29/2010
Status: offline 		this makes me sufficiently ill. dumping more tax money into the pockets of overpaid executives to fix the mistakes of other overpayed executives? yeah, real sound... oy. 

(edited for snark)


< Message edited by LillyBoPeep -- 11/15/2011 1:11:52 PM >

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:09:52 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Didnt they just ask for more money?

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:10:41 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		Yep....just to keep them afloat this quarter IIRC.

_____________________________

If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4


(in reply to tazzygirl)
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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:12:35 PM   
LillyBoPeep


Posts: 6873
Joined: 12/29/2010
Status: offline 		they did, to cover losses. if they'd kept the bonuses, that would've covered their losses. 

the idea that the only way to ensure that "adequate management" can be found is to pay them this obscene amount of money just goes to show that they still don't think this problem has anything to do with them.


< Message edited by LillyBoPeep -- 11/15/2011 1:13:28 PM >

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:12:50 PM   
Iamsemisweet


Posts: 3651
Joined: 4/9/2011
From: The Great Northwest, USA
Status: offline 		I am currently having to deal with Fannie Mae on a legal issue.  As far as I can see, those people couldn't find their own asses with both hands.  The last thing they deserve is a bonus.  They are practically as illogical, rude and impossible to deal with as Bank of America, and that is saying a lot.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:13:05 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Wouldnt 100 million have kept them afloat?

Now, look, lets be serious. A company makes well above record profits... then you bonus the hell out of management. But if you have your hat in your hand and are begging the people, us, those who are hurting the most in all this corporate bullshit, for more money, you damn well better not be wasting a dime.

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:15:58 PM   
MasterSlaveLA


Posts: 3991
Status: offline 		 
Fuckin'-A... ain't Government GREAT?!!



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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:16:38 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Aint just the government

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to MasterSlaveLA)
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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:17:30 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		As great as the un-regulated marketplace,yes sirree

_____________________________

If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4


(in reply to MasterSlaveLA)
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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:21:43 PM   
MasterSlaveLA


Posts: 3991
Status: offline 		 
The private sector doesn't get to just print money -- the Gov. does.  Big difference.

As to the "bail outs" some received, I agree with what Newt said in one of the debates... an audit of the Federal Reserve to see WHY some got bailed out and others didn't. 



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RE: Fannie Mae rewards it executive with $100 Millions - 11/15/2011 1:26:14 PM   
MasterSlaveLA


Posts: 3991
Status: offline
quote:

ORIGINAL: slvemike4u

As great as the un-regulated marketplace, yes sirree



Riiiiiiiiiiiiiiiiiight... 'cause there are NO "regulations" out there... zero, zilch, nada!!!



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