Fannie Mae and Freddie Mac Fatcats With your Money
Rep. Barney Frank: Multi-Million Dollar Bonuses to Freddie, Fannie ‘Too High’ CNS News - The Obama administration recently approved base salaries of $900,000, plus $3.1 million in deferred payments, and another $2 million in bonuses for the CEOs of the failed mortgage giants Fannie Mae and Freddie Mac. When asked if tax dollars should pay those bonuses or if they should be cancelled, the chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.), told CNSNews.com that the bonuses were “too high” but “nothing can be done now.”
GM, Chrysler, Fannie, Freddie Exempt from Obama’s Proposed Tax on TARP Recipients CNS News – Even banks that have already paid back their portion of the $700-billion federal bailout would be subject to a special tax under a White House proposal that opponents call punitive. But the failed and government-controlled mortgage giants Fannie Mae and Freddie Mac would not be subject to the tax, although they also received bailout money. President Obama blasted "obscene bonuses" on Wall Street Thursday.
Seventy GOP Congressmen Call on Geithner to Cancel Bonuses for CEOs at Government-Owned Fannie Mae and Freddie Mac CNS News – Seventy Republican members of Congress want Treasury Secretary Timothy Geithner to cancel up to $6 million in bonuses and deferred compensation -- approved before Christmas 2009 -- for the chief executive officers of the failed mortgage giants Fannie Mae and Freddie Mac. “(T)here’s a letter that’s going to Sec. Geithner from a number of us calling for a rescission of those bonuses,” Rep. Michele Bachmann (R-Minn.) told CNSNews.com Wednesday.
Tags: Barney Frank, CNS, Fannie mae, Freddie Mac, Timothy Geithner, US Congress, CNS News To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
GM, Chrysler, Fannie, Freddie Exempt from Obama’s Proposed Tax on TARP Recipients CNS News – Even banks that have already paid back their portion of the $700-billion federal bailout would be subject to a special tax under a White House proposal that opponents call punitive. But the failed and government-controlled mortgage giants Fannie Mae and Freddie Mac would not be subject to the tax, although they also received bailout money. President Obama blasted "obscene bonuses" on Wall Street Thursday.
Seventy GOP Congressmen Call on Geithner to Cancel Bonuses for CEOs at Government-Owned Fannie Mae and Freddie Mac CNS News – Seventy Republican members of Congress want Treasury Secretary Timothy Geithner to cancel up to $6 million in bonuses and deferred compensation -- approved before Christmas 2009 -- for the chief executive officers of the failed mortgage giants Fannie Mae and Freddie Mac. “(T)here’s a letter that’s going to Sec. Geithner from a number of us calling for a rescission of those bonuses,” Rep. Michele Bachmann (R-Minn.) told CNSNews.com Wednesday.
Tags: Barney Frank, CNS, Fannie mae, Freddie Mac, Timothy Geithner, US Congress, CNS News To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 10:24 PM - Post Link
3 Comments:
Politics as usual and paybacks as expected. Nothing new in the Obama administration---just the same old stuff with a Chicago twist!
It's amazing really. The amount of money and power that is being played with here is scary to me. I keep telling all my friends, "If you're in debt, get out asap and into some wealth securing assets." Because I don't see this economy getting any better but only worse because of financial decisions like those being made right now by people who do not appear to have anything but themselves at heart.
Ron & Goldtracker: You are both right!
And getting out of debt as soon as possible is critical. For seniors with the cost of increasing health care. For other, remember paying a few more dollars in income tax (which none of us like) is far less than paying the high cost of interest on your home. Get out of debt!
The Government's failed example is not to be followed.
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