AMERICAblog: Freddie & Fannie execs to walk away with millions
Reason0Politics1
· 1 year ago
and the market was all goo goo about it today! too funny. managed indexes and fraudulent "free markets"
vwcat
· 1 year ago
answer me why time and time again these jokers do a shit job and walk away with gazillions of dollars for doing a shit job and why is it that we end up having to pay for it. We, who don't get a dime if we do a lousy job have to pay these worthless slugs their multi million dollar packages while they do not even deserve 2 weeks severance pay of a lowly employee. We want to know what is wrong with our country - let's start with this crap.
devlzadvocate
· 1 year ago
why? simple. because they can. it is called capitalism
the other killer will be that domestic shareholders and taxpayers will take the entire hit while foreign stockholders (i.e. CHINA) will take NONE.
Busboy
· 1 year ago
This time, all of these jokers were old Clinton appointees. Made Ken Lay look like a piker. There are big time bloodsuckers from both parties ready to abscond with the public wealth.
Total take from political appointees connected with Fannie + Freddie = 52 million bucks...
Sage24
· 1 year ago
So why are we, the taxpayers, having to bail them out? Shouldn't these culprits forfeit their severence pay and bonuses?
Here are a few reasons why we should be afraid of a possible Palin Presidency.
These guys and gals (no I'm not 90, but I'm trying not to curse) should have their funds held in escrow and be forced to work at McDonalds or Walmart for three years to open their eyes to how hard it is to survive in this economy when the keepers of the markets fuck up so badly. Oooops, I cursed.
prochoicelib
· 1 year ago
If these companies are now part of the US Gov't they should have thier employment contracts null and void, and should receive civil service pay at max about G12. They're gov't employees now.
Oh, but we're talking about Amerikka, where you socialize the losses and capitalize the profits.
Busboy
· 1 year ago
Where is it in the US Constitution or the bill of rights that the US government thru quasi governmental corporations have to guarantee mortgages for people who can't qualify for standard mortgages? Can you say "fiscal insanity"?
ComradeRutherford
· 1 year ago
The CEOs are being rewarded for their success in fulfilling a key GOP goal: preventing Americans from buying a home.
The destruction of F&F was arranged by the GOP over the last 8 years. These CEOs simply executed their plan and are now reaping their reward for a job well done.
The CEOs on Wall Street have all been richly rewarded for their role in destroying the American economy.
This is all self-evident. A CEO drives a firm into the ground through obvious and documented mis-management, they are obscenely paid for their time their, they get to sell of their options before the stock tanks, then they get a lifetime fully - paid retirement (no copays or deductibles on their health care!). The CEOs live happily ever after having made America weaker for the Republican party to exploit for political gain. Like I said, it's self-evident...
We have seen the most brazen bald-faced lying from McCain, Palin and their spokespeople and we have seen the media largely let them get away with it. To sooth the jangled electorate, when they do mention the festering pit that is Palin's tenure in Alaska, or McCain's having already given over any actual control he may have had to the same crazies that control the White House now, the media frames the question so as to create reasonable doubt. No matter how proven and documented some Republican crime may be, the media never just says 'this happened, it is a documented part of history.' They always make it sound like it may not have happened.
This last week has laid bare and made obvious that all main stream media is strictly controlled by the same crazy cabal that's run the GOP for the last 28 years.
gwpriester
· 1 year ago
We like to reward inneptitude.
Indigo
· 1 year ago
There's an interesting, probably important lesson in the decisions and behavior of the exectuives that were involved. Their focus was on setting up their exit conditions. That plan was the original motivator and what they did on behalf of or to the stock holders was a secondary consideration. The philosophy of profit changes character as it moves up the power ladder: the higher you go up the power ladder the more knowingly you screw over others to feather your own next. Mix in the flavor of class war revenge against the have-nots and you've got Ayn Rand, Atlas Shrugged. Yes, it's a repulsive read. It's also absoultely essential to anyone who wants to get inside the plot and look around. Preston Bush. Ayn Rand. Alan Greenspan. They're not playing tiddle-winks here, they're out to destabilize the social structure to achieve their feudal intentions. Here endeth the vesperal rant.
bikny
· 1 year ago
The first thought I had upon hearing that the top execs at Fannie Mae & Freddie Mac were losing their job was how much their exit packages were going to be. Now I know. I wish I didn't.
anarchy
· 1 year ago
yeah, Busboy, it's ALL Clinton's fault!
you tell 'em bucko.
corporate welfare mothers, that's what they are.
ComradeRutherford
· 1 year ago
I get the Ayn Rand Objectificationism, but with the GOP there's also a heavy dose of 1984 in there. I read that book in 2005 and I dog-eared about 1/3 of the book whenever I cam across a description of today's Republicans.
The GOP are clearly totalitarians.
High Crimes & Misdemeanors
· 1 year ago
Chris, did you see this:
The new IPS/UFE 2008 CEO Pay Survey explains how taxpayers subsidize $20 billion worth of executive compensation. The report describes five executive-friendly tax loopholes for which there is an easy legislative fix, but which have stalled in the face of fierce opposition from corporate lobby groups. S&P 500 CEOs averaged $10.5 million in pay in 2007, 344 times the pay of typical American workers.
All Comments
We, who don't get a dime if we do a lousy job have to pay these worthless slugs their multi million dollar packages while they do not even deserve 2 weeks severance pay of a lowly employee.
We want to know what is wrong with our country - let's start with this crap.
the other killer will be that domestic shareholders and taxpayers will take the entire hit while foreign stockholders (i.e. CHINA) will take NONE.
Total take from political appointees connected with Fannie + Freddie = 52 million bucks...
Here are a few reasons why we should be afraid of a possible Palin Presidency.
http://www.alternet.org/story/97907/sarah_palin...
Oooops, I cursed.
Oh, but we're talking about Amerikka, where you socialize the losses and capitalize the profits.
The destruction of F&F was arranged by the GOP over the last 8 years. These CEOs simply executed their plan and are now reaping their reward for a job well done.
The CEOs on Wall Street have all been richly rewarded for their role in destroying the American economy.
This is all self-evident. A CEO drives a firm into the ground through obvious and documented mis-management, they are obscenely paid for their time their, they get to sell of their options before the stock tanks, then they get a lifetime fully - paid retirement (no copays or deductibles on their health care!). The CEOs live happily ever after having made America weaker for the Republican party to exploit for political gain. Like I said, it's self-evident...
We have seen the most brazen bald-faced lying from McCain, Palin and their spokespeople and we have seen the media largely let them get away with it. To sooth the jangled electorate, when they do mention the festering pit that is Palin's tenure in Alaska, or McCain's having already given over any actual control he may have had to the same crazies that control the White House now, the media frames the question so as to create reasonable doubt. No matter how proven and documented some Republican crime may be, the media never just says 'this happened, it is a documented part of history.' They always make it sound like it may not have happened.
This last week has laid bare and made obvious that all main stream media is strictly controlled by the same crazy cabal that's run the GOP for the last 28 years.
Here endeth the vesperal rant.
you tell 'em bucko.
corporate welfare mothers, that's what they are.
The GOP are clearly totalitarians.
The new IPS/UFE 2008 CEO Pay Survey explains how taxpayers subsidize $20 billion worth of executive compensation. The report describes five executive-friendly tax loopholes for which there is an easy legislative fix, but which have stalled in the face of fierce opposition from corporate lobby groups.
S&P 500 CEOs averaged $10.5 million in pay in 2007, 344 times the pay of typical American workers.
http://www.ips-dc.org/reports/#623