red states rule
11-04-2011, 03:31 AM
The WH and liberal media have spent the last 3 years bashing private companies for giving out bonus to its workers yet they have said zip when its comes to Fannie and Freddie handing out taxpayer money to its workers
snip
When bailed-out private Wall Street banks handed out bonuses last year, the president threw a fit. So why is he ignoring the huge executive bonuses at government-owned Fannie Mae and Freddie Mac?
Shortly after taking office, President Obama reacted to Wall Street bonuses handed out in January 2009 with incredibly harsh language, calling them "shameful" and "the height of irresponsibility."
"Folks on Wall Street who are asking for help need to show some restraint and show some discipline and show some sense of responsibility," he said. A few months later, Obama pledged that there would be "no more bonuses for companies that taxpayers are helping out," calling them a violation of "our fundamental values."
snip
Not only where they at the epicenter of the housing bubble, but also the government had to take them over, pumping in cash to cover their huge losses on the mortgages they owned and guaranteed. And far from paying taxpayers back, the best-case scenario for Fannie and Freddie is that their bailout will cost over $120 billion.
But that didn't stop the two agencies from giving their top 10 executives $12.8 million in bonuses for meeting what have been charitably described as "modest goals."
And the White House response to this genuine outrage? Crickets.
When asked about it on Tuesday, press secretary Jay Carney washed the administration's hands of the matter. "These entities are independent and therefore they are independent decisions," he said. "The White House is not involved, and nor should it be."
http://news.investors.com/Article.aspx?id=590345&p=1
snip
When bailed-out private Wall Street banks handed out bonuses last year, the president threw a fit. So why is he ignoring the huge executive bonuses at government-owned Fannie Mae and Freddie Mac?
Shortly after taking office, President Obama reacted to Wall Street bonuses handed out in January 2009 with incredibly harsh language, calling them "shameful" and "the height of irresponsibility."
"Folks on Wall Street who are asking for help need to show some restraint and show some discipline and show some sense of responsibility," he said. A few months later, Obama pledged that there would be "no more bonuses for companies that taxpayers are helping out," calling them a violation of "our fundamental values."
snip
Not only where they at the epicenter of the housing bubble, but also the government had to take them over, pumping in cash to cover their huge losses on the mortgages they owned and guaranteed. And far from paying taxpayers back, the best-case scenario for Fannie and Freddie is that their bailout will cost over $120 billion.
But that didn't stop the two agencies from giving their top 10 executives $12.8 million in bonuses for meeting what have been charitably described as "modest goals."
And the White House response to this genuine outrage? Crickets.
When asked about it on Tuesday, press secretary Jay Carney washed the administration's hands of the matter. "These entities are independent and therefore they are independent decisions," he said. "The White House is not involved, and nor should it be."
http://news.investors.com/Article.aspx?id=590345&p=1