Kiss my Fannie (Mae)

After AIG took a beating today at Congressional hearings over the controversial $165 million in bonuses paid to it’s executives more news comes that Fannie Mae and Freddie Mac, both recently taken over by the U.S. government, are planning to reward their execs with a payout.  That’s right folks your taxpayer dollars are hard at work once again.  James Lockhart, director for the Federal Housing Finance Agency, characterized the payouts as:

…a reasonable and well-thought out plan

He maintains that “human capital” is key to keeping Fannie & Freddie afloat.  The same human capital that drove you into the ground and made you ask the government for a handout?  Once again we’re rewarding the assholes who destroyed our financial system all in the name of their own greed.  All I can say is I want my money back.  Who’s with me?

2 thoughts on “Kiss my Fannie (Mae)”

  1. You have to admire these guys for the sheer gall of the retention argument.

    I can’t imagine going to my boss (if I still had a boss, given that I’ve been laid off) and saying, “Boss, sure I screwed up royally last year and cost the company millions, but if you don’t give me a bonus, I quit.”

    In the real world, the next things I’d see are the door and the street. But I guess the scions of high finance live in some parallel world where bullshit is currency.

  2. Abi – You’re so right. It couldn’t have been any worse if they had chosen to use the, “But I can’t get another job!” argument. It’s just naked greed.

    I’m sorry to hear you lost your job. The Frog just got laid off as well. Nobody’s safe any more.

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