Comments on: Fannie, Freddie Rescue Could Cost $25B

Analyst Says There's Less Than 50 Percent Chance That A Pricey Bailout Will Be Necessary

[donevis-2009]

Last year, Freddie Mac paid Chairman and Chief Executive Richard Syron nearly $19.8 million in compensation even though the mortgage company''''s stock lost half its value. During the same period, Fannie Mae President and Chief Executive Daniel Mudd got compensation valued by the company at $12.2 million, including a $2.2 million bonus.

This reflects Freddie and Fannie priorities, compensation at this level is pure greed at the top.

Posted by navpro at 10:37 AM : Jul 22, 2008

So how does this make you feel Kids? It will be our money bailing out these rich idiots again. Believe me, when we go for our social Security and pension money it will be all gone, tied up in bailing out these elite people while they''re out on their private islands. "God Speed USA" By the way the checks being issued by IndyMac bank (FDIC) to all those poor people in Calf. aren''t being honored by other banks yet.

[starleo146]

darnbat3, they dont exactly have a choice on hiow they run their business. They had to take on bad mortgages from other banks that have been in trouble to save them. Its all Clintons fault.

Posted by GOP_forever at 10:33 AM : Jul 22, 2008

Clinton''s fault yea, and just like mc bush says about high gas prices is Obamas fault, who is to blame for Iraq and the the 3 trillion a week over there give me a break stand up your sitting on your brain

[starleo146]

Here''''s how this happened:


These banks spent big bucks lobbying a Republican Congress to deregulate them. They got there way and began engaging in reckless speculative practices. They made billions in the short term and they knew that if they crashed and burned, that the American taxpayer would have to bail them out or the entire economy would tank. So here we are bailing them out.


The same thing happened during the Reagan and Bush 1 years with the 1 trillion dollar savings and loan bailout.


Thanks for voting Republicon.


lol!




Posted by singingrick at 11:01 AM : Jul 22, 2008

Great post, and how long, and how much will the tax payer have to pay for this. I can''t take 6 months of this debacle administration, drag him out now

[jediservant]

You know, it is easy to spend 25M when it''s coming from someone else pocket. I bet if their retirement was based on how much money they saved the tax payer you would not see these bail outs!

[Gary Kempf]

Oscarez
Bush will die wealthy and happy no matter what happens between now and the end of his regime.... Sociopaths have no conscience.

[singingrick]

Here''s how this happened:


These banks spent big bucks lobbying a Republican Congress to deregulate them. They got there way and began engaging in reckless speculative practices. They made billions in the short term and they knew that if they crashed and burned, that the American taxpayer would have to bail them out or the entire economy would tank. So here we are bailing them out.


The same thing happened during the Reagan and Bush 1 years with the 1 trillion dollar savings and loan bailout.


Thanks for voting Republicon.


lol!

[vnveteran72]

$25 Billion????......Oh No!!!.....This means we''ll have to forgo 10 minutes of Iraq War funding.....We''re Doomed!!!.....

[fuzzybear9]

Hello America

Fuzzy what is the topic today ?

Economics 101

$25 billion dollars about the exact same amount that the Pentagon cannot account for in their 2006 war bUdget, remember when $24 billion war dollars could not be accounted for ?

now You recall couple of mounths ago George Bush told us the economy is strong and we need to get some of our money from the foreign countries, Asia, etc.

now they G.W. wants a bail out for Fanny and Freddie investors,

did you know that about 40-50 % of Fanny and Freddie are owned by the Chinese Goverment investments ?

so in reality G.W. is proposing a bailout for the Foreign investors.

are you confused ?

so am I .

and whats more neither McCain or Obamma is any better equiped to answer these questions.

grab the money and run.

sincerely investing my tax dollars in China Bear
Fuzzy

[oscarez]

This reflects Freddie and Fannie priorities, compensation at this level is pure greed at the top.

Posted by navpro at 10:37 AM : Jul 22, 2008

This is America and these guy are just following Bush and Company to the status of super rich. Now if Bush could just get rid of all federal taxes for anyone making more than $100,000.00 a year he will die a happy man.

[outwest6]

As long as Bush-Cheney are in power, we will rescue the rich no matter what their salary. In this case though aren''t we also rescuing all of us saving for our retirement in 401K''s because when big losses occur they will fall on us? Many of our investments have their stocks in large amounts.

CEO compensation has skyrocketed because so many mutual funds don''t care about it and because they own so much stock. After this all said and done these two CEO''s will still be ultra-rich contributers to the GOP and working folks will pay the price.

[nextgenman]

No problem, the spend happy democratic congress will write a check ! The are loaded !

Posted by old300d at 10:37 AM : Jul 22, 2008
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nice try. But its the Bush RINO administration asking for this social program bailout with US Tax Payer money.

[nextgenman]

darnbat3, they dont exactly have a choice on hiow they run their business. They had to take on bad mortgages from other banks that have been in trouble to save them. Its all Clintons fault.

Posted by GOP_forever at 10:33 AM : Jul 22, 2008
------------

nice try. But the reality is, the GOP is to blame.

[old300d]

No problem, the spend happy democratic congress will write a check ! The are loaded !

[Gary Kempf]

Last year, Freddie Mac paid Chairman and Chief Executive Richard Syron nearly $19.8 million in compensation even though the mortgage company''s stock lost half its value. During the same period, Fannie Mae President and Chief Executive Daniel Mudd got compensation valued by the company at $12.2 million, including a $2.2 million bonus.

This reflects Freddie and Fannie priorities, compensation at this level is pure greed at the top.

[meanbiker]

We can not run our personal households poorly and expect someone else to fix it for us. If the CEO''''s of these companies would donate their salaries and bonus'''' for a couple of years they could fix their own problem.

Posted by darnbat3


YOU ARE SO FRICKING RIGHT!!!!! THIS IS B.S.... The CEO''s should have to give up EVERYTHING THEY OWN TO PAY FOR THIS PROBLEM!!! IT IS THEIR FAULT AND THEY SHOULD TAKE RESPONSIBILITY FOR THIS... IT IS TIME THAT CEO''s become accountable for the companies that they manage..

[darnbat3]

It is about time that Big Brother stops bailing business''s out of trouble when they get their selves into a bind because of bad business decisions. We can not run our personal households poorly and expect someone else to fix it for us. If the CEO''s of these companies would donate their salaries and bonus'' for a couple of years they could fix their own problem.

[Razzl]

First off, we can dismiss out of hand any Republican complaints, which are always based on ideological hatred of government programs. The public doesn''t agree with them, the public wants Social Security and mortgage insurance programs and, if we could get it, a national health insurance program.

That said, it was obviously a mistake for Paulson to seek this "backup" because it was not immediately needed and the huge pile of inaccurate headlines calling it a "bailout" show how it was destined to be misunderstood by the public and slandered by Republican operatives trying to stir up ideological opposition to the very programs themselves.

When this credit crunch is all over the public is not going to let Congress do away with the home mortgage tax deduction and FHA or VA mortgage insurance or any of the programs that help people get into homes. This public needs the help that government is structured to give in order to take their place in the free-market system and the privileged class that makes up pure free-market Republican ideologues will never get it that that public is awake an will never give those programs up.

[keeblers69]

I am guessing both of these guys are toast anyways let them go through the bankrupcy proceedings and they would come out to be better companies in the long run.