Well ..well Things are getting VERY interesting...very......click the title to read more...Here is a snippet from the WaPo article:
"4 Fannie Execs Each to Get $400K in Govt.-Okayed Bonuses
At least four Fannie Mae executives are slated to receive more than $400,000 in bonuses each this year as a result of the company's government-approved retention program, The Post's Zach Goldfarb reports.The executives include chief operating officer Michael Williams ($611,000), deputy chief financial officer David Hisey ($517,000), and executive vice presidents Thomas Lund ($470,000) and Kenneth Bacon ($470,000).Each of these executives earned about $200,000 in retention payments last year and salaries ranging from $385,000 to $676,000."
Don't you love the term "Retention " Payments...HOW could these Execs Demand Retention Payments when they Failed and their Companies are in such Crisis ???? Now THAT is truly GREED....period.
4 comments:
Another thing set up by Bush and Paulson. Geeze when will we be done with them.
The enabling law establishing the FHFA is the Federal Housing Finance Regulatory Reform Act of 2008, which is Division A of the larger Housing and Economic Recovery Act of 2008, Public Law 110-289, signed on July 30, 2008 by President George W. Bush.
Appointed as CEOs are Herb Allison, for Fannie Mae and David M. Moffett for Freddie Mac. Allison is former Vice Chairman of Merrill Lynch and for the last eight years chairman of TIAA-CREF. Moffett is the former Vice Chairman and CFO of US Bancorp. Their compensation will be significantly lower than the outgoing CEOs. They will be joined by equally strong non-executive chairmen.
Other management action will be very limited. The new CEOs agreed it is important to work with the current management teams and employees to encourage them to stay and to continue to make important improvements to the Enterprises.
what a mess....never ending mess....pile of Bush shit to wade through in the years to come...
Generally speaking, anything labeled as a regulatory reform act that passed during the past 8 years should be relabeled as a citizens-getting-screwed-over act. It was so consistent that one could safely use Window's find-and-replace function.
oh grace you are Sooooooooo right....
Post a Comment