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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

FANNIE AND FREDDIE TO PAY BONUSES

By
Neal Boortz
@ March 24, 2009 8:49 AM
Permalink | Comments (24) | TrackBacks (0)

When Fannie Mae and Freddie Mac want to pay out at least a million dollars in bonuses .. all of the sudden, it is OK for companies to dole out retention bonuses to keep their best and brightest employees. James Lockhart, the federal regulator overseeing Fannie and Freddie says, "there's a 'great risk' of key employees walking away if they don't pay out the promised bonuses. These Fannie and Freddie employee retention programs were established because federal officials believed top executives will play a critical role in ensuring the successful turnaround of the companies."

And the same doesn't go for companies like AIG?



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What others are saying

  • bonuses
    AIG, freddie mac and fannie mac employees are not the ones at faoult, these bonuses are simply business as usual.
    The people that should be blamed are the treasury and congress.
    Employee compensation should have been addressed before any of these busineses received a dime.
  • Key employees walking away.
    Don't let the door hit you in the butt. I am so sick of hearing this key employee baloney. Most of them should have been fired long ago. Fannie and Freddie are just revolving doors for government wannabes either coming or going. Brain washed slackers or affirmative action types.
  • More hypocrisy and Voltaire comes out of the closet
    The fannie/freddie bonuses are pure "Mugabe" economics (I love that term: thanks Gov. Sanford). I suppose tax-cheat Geithner is going to get his calendar dates "mixed up" again when the sh*t hits the fan, right?

    Oh and Voltaire, now you're finally out of the closet as you typed: "I didn't know they were gonna suck us off. Give 'em the bonuses I say! Hurry!" I'm sure Slobbering Barney will be too happy to oblige...
  • RE: volaire
    Just proves what you and your kind are all about !
  • more stories from the land of hypothetical outrage
    These bonuses have not been paid out. Barney Frank is against them.

    Iowa Sen. Chuck Grassley, top Republican on the Finance Committee, appeared on CBS' Face the Nation, where he said: Iowans "just don't understand how people that make $20 million a year can drive a corporation into the ground, go suck off the taxpayers for bailouts, and then give out millions of dollars of bonuses."

    I didn't know they were gonna suck us off. Give 'em the bonuses I say! Hurry!
  • Fannie and Freddie bonuses
    How many days left until the next election?

    For the first time in 49 years I feel embarrassed to be an American. I hope all of you idiots that elected these fools up on the hill are happy.
  • Chuck
    Neal! If you stand by the statement that the money belonged to those AIG execs your going to have to go toe-to-toe with Chuck Norris!!!

    http://townhall.com/columnists/ChuckNorris/2009/03/24/mexico,_mafias_and_baggy_borders

    "Instead of shifting tens of millions of dollars from investigating employers guilty of hiring illegal immigrants to fighting Mexican drug cartels, the Obama administration should leave that money alone and hunt down the $100 million-plus that AIG executives robbed from taxpayers for their bonuses."
  • Why is anyone surprised?
    The failures of Fannie and Freddie were the logical consequence of the underwriting policies forced upon them by Congress. Their executives were spectacularly successful at implementing those policies, and should therefore reap the rewards of their efforts. "Meritocracy" re-defined for the Obama era of American politics.
  • I'm Waiting
    Lets see if the known libs that post here will belly up to the bar and condemn this little move,

    or are they two faced and will try to claim we are nit picking and whining?

    Go guys, tell me the bed time story on how because it Dems its the right thing to do.

    YEP! Change we can believe is happening!
  • Fannie/Freddie Bonus Action
    In the current economy and unemployment rate, are high-lvl exec. employees really threatening to leave the company and go work somewhere else? Where are they going to work? I didn't know the job market was looking for them...retention bonuses, who made up this balogna
  • Is it just me?
    Fannie Mae sounds like Aunt Jemima or a black woman washing dishes on the plantation. Freddie Mac sounds like the name of a pimp in harlem.
  • I love the contradictions here...
    ...if government interference is awful, then it is awful all the time. Since AIG welcomed government intervention into their enterprise, they have to take the bad with the good. Maybe next time, these companies will say no to bailouts and take their chances in bankruptcy court.
  • Will there be
    Will there be mass protests of Frank and Dodds office? Will there be bus tours of these employees houses?
    Will the media step up to the plate and report this?
  • Are Fannie and Freddie Hiring?
    Look for multiple applications from those at AIG whose bonuses were stolen by the government. Whether we agree with them or not, the government does not have the constitutional right to interfer. They approved the bailout "as is" and should quit complaining.
  • Bonuses
    If the AIG bonuses were so evil, why was the 'lynch mob' tax only 90% and not 100%? I believe it is because the Soviet Union allowed capitalism in some areas of the country, but taxed it at 90% is the reason. The dems were following the Soviet Union model, again.
  • Fannie & Freddie Bonus'
    I find it very convenient that as these bonus' are getting ready to be paid that the President is now trying to "quell the fire he stoked over AIG bonus'" The market is up no need for a distraction right now I guess.
  • Selective Outrage
    What time do we all show up at the houses of the Fannie and Freddie bonus recipients? Perhaps these folks have also been flying around in military jets along with our House Speaker. The stench of hypocrisy is overwhelming.
  • TAX THEM! TAX THEM! PUNISH THOSE EVIL AIG, I MEAN FANNIE AND FREDDIE CEO's
    TAX THEM AT 90%!!!! Those EVIL AIG, I mean FANNIE AND FREDDIE NEED TO BE PUNISHED!! Congress is now the JUDGE AND JURY. They can use their power to TAX to PUNISH. Companies that reseive Bailouts have NO right to use MY TAX dollars to pay these EVIL AIG, I mean Fannie and Freddie Bounses!!! These people ran the company in to the ground. IT's just not fair! DEATH TO THE AIG CEO'S, Sorry - I mean DEATH TO THE Fannie and Freddie CEO's!!!


    The point is - Congress and the people have double standards when it comes to THE LAW. Congress is out of control and have NO idea what their JOB really is anymore. It is SAD, Very sad!
  • Can you say
    HYPOCRITES
  • Bonuses
    But Fannie and Freddie are so important to growing the government, so of course we can't take away their bonuses. Only the evil filthy greedy disgusting rich get obliterated by the mobs of slobbering liberals with torches and pitchforks.
  • The Pelosi Exec Comp law
    So Does the new Pelosi Exec Comp Law apply only to AIG execs, or to any exec of any company receiving bailout funds? You'd think after the AIG flap that Freddie and Fannie wouldn't be so politically tone deaf.
  • Not the same at all
    You asked why the same doesn't apply to AIG?

    AIG isn't in bed with Barney Frank doing the nasty.
  • Terrific point.
    It is wrong in both enterprises, since neither would exist without government involvement. Both should have already failed.
  • Fannie & Freddie
    Unbelievable. Their hypocrisy knows no bounds.
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