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| Topic: Fannie, Freddie worker bonuses total $210M | |
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WASHINGTON – Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies.
The retention awards for more than 7,600 employees were disclosed in a letter from the companies' regulator released Friday by Sen. Charles Grassley of Iowa, the senior Republican on the Senate Finance Committee. The companies paid out nearly $51 million last year, are scheduled to make $146 million in payments this year and $13 million in 2010. "It's hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year," Grassley said in a statement. "It's an insult that the bonuses were made with an infusion of cash from taxpayers." entire article http://news.yahoo.com/s/ap/20090403/ap_on_bi_ge/mortgage_giants_bonuses |
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WASHINGTON – Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies. The retention awards for more than 7,600 employees were disclosed in a letter from the companies' regulator released Friday by Sen. Charles Grassley of Iowa, the senior Republican on the Senate Finance Committee. The companies paid out nearly $51 million last year, are scheduled to make $146 million in payments this year and $13 million in 2010. "It's hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year," Grassley said in a statement. "It's an insult that the bonuses were made with an infusion of cash from taxpayers." entire article http://news.yahoo.com/s/ap/20090403/ap_on_bi_ge/mortgage_giants_bonuses I'm beginning to believe that the whole bail-out of the banks thing was a scam! We, the American people, have been being scammed for quite some time. Trouble is, we've enjoyed it so much! But, it's not so much fun when it all comes crashing down around us. Our greed is catching up with us. Question is, are we going to do the right thing to save ourselves? 
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Something they have known about since way before the election.
However in order to maintain the momemtum towards the white house the dems knew they would have lost at least three seats (Barney Franks being one) if they had allowed this information to go public at that time. Interesting that they waited to see America's response to AIG before they allowed this to be publically released. SHAME ON OUR NEWS SERVICES... They are either in the pocket of the gov or really screwed up (or both). |
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Investigate their records and I bet you find they were also involved in selling to Illegals and selling to minorities they knew would end up in foreclosure.
All they would have to do is make a graph of sales to foreclosures. |
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Edited by
Fanta46
on
Sat 04/04/09 09:21 AM
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$210 million!
What a deception. The companies paid out nearly $51 million last year. There's nothing to do about that portion, now is there. Its gone, paid out! That leaves $159 million. Scheduled to make $146 million in payments this year. Probably guaranteed and legally binding. I've heard the new Administration is working on limiting them, but you really cant void a contract. That leaves $13 million. and $13 million in 2010. That's more like it and is probably a much lower number due to the financial crisis and the Administrations hand in negotiating new contracts! Remember! These amounts must be divided by 7,600. |
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Edited by
willing2
on
Sat 04/04/09 09:28 AM
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Investigate their records and I bet you find they were also involved in selling to Illegals and selling to minorities they knew would end up in foreclosure. All they would have to do is make a graph of sales to foreclosures. BTW, Fannie and Freddie help keep La Raza afloat. Institutional Corporate Partners The National Council of La Raza (NCLR) recognizes those corporations that have invested in NCLR’s long-term strategic efforts with multiyear, multimillion-dollar commitments, including NCLR’s Empowering An American Community Campaign. The Allstate Corporation Bank of America The Coca-Cola Company Citi Fannie Mae Freddie Mac Ford Motor Company General Motors Corporation PepsiCo Foundation The PMI Group, Inc. State Farm Insurance Companies UPS Univision Wal-Mart Stores, Inc. http://www.nclr.org/section/corporate_partners/institutional_corporate/ American International Group, Inc. is listed under Corporate Partner. |
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$210 million! What a deception. The companies paid out nearly $51 million last year. There's nothing to do about that portion, now is there. Its gone, paid out! That leaves $159 million. Scheduled to make $146 million in payments this year. Probably guaranteed and legally binding. I've heard the new Administration is working on limiting them, but you really cant void a contract. That leaves $13 million. and $13 million in 2010. That's more like it and is probably a much lower number due to the financial crisis and the Administrations hand in negotiating new contracts! Remember! These amounts must be divided by 7,600. 13 million divided by 7600 equals 1,710 dollars. These numbers were presented in a way to deceive. With a dose of common sense and a little arithmetic anyone can see that! |
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Investigate their records and I bet you find they were also involved in selling to Illegals and selling to minorities they knew would end up in foreclosure. All they would have to do is make a graph of sales to foreclosures. BTW, Fannie and Freddie help keep La Raza afloat. Institutional Corporate Partners The National Council of La Raza (NCLR) recognizes those corporations that have invested in NCLR’s long-term strategic efforts with multiyear, multimillion-dollar commitments, including NCLR’s Empowering An American Community Campaign. The Allstate Corporation Bank of America The Coca-Cola Company Citi Fannie Mae Freddie Mac Ford Motor Company General Motors Corporation PepsiCo Foundation The PMI Group, Inc. State Farm Insurance Companies UPS Univision Wal-Mart Stores, Inc. http://www.nclr.org/section/corporate_partners/institutional_corporate/ American International Group, Inc. is listed under Corporate Partner. With friends like those, no wonder, Viva La Raza! |
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ok...can someone give me the shorten version of fannie and freddie?
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Founded in 1968, NCLR is a private, nonprofit, nonpartisan, tax-exempt organization headquartered in Washington, DC. NCLR serves all Hispanic subgroups in all regions of the country and has operations in Atlanta, Chicago, Los Angeles, New York, Phoenix, Sacramento, San Antonio, and San Juan, Puerto Rico.
There is nothing illegal about La Raza. |
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Institutional Corporate Partners
The National Council of La Raza (NCLR) recognizes those corporations that have invested in NCLR’s long-term strategic efforts with multiyear, multimillion-dollar commitments, including NCLR’s Empowering An American Community Campaign. The Allstate Corporation Bank of America The Coca-Cola Company Citi Fannie Mae Freddie Mac Ford Motor Company General Motors Corporation PepsiCo Foundation The PMI Group, Inc. State Farm Insurance Companies UPS Univision Wal-Mart Stores, Inc. |
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Probably guaranteed and legally binding. I've heard the new Administration is working on limiting them, but you really cant void a contract.
Tell that to the airtraffic controllers, or the auto workers, or the teamsters... |
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Founded in 1968, NCLR is a private, nonprofit, nonpartisan, tax-exempt organization headquartered in Washington, DC. NCLR serves all Hispanic subgroups in all regions of the country and has operations in Atlanta, Chicago, Los Angeles, New York, Phoenix, Sacramento, San Antonio, and San Juan, Puerto Rico. There is nothing illegal about La Raza. Right as rain! They are, however the principle supporters for blanket Amnesty. They are using a lot of those Dollars to Legally, push the Dream Act. Could you and the rest of your crew be replaced by cheaper labor? I'd bet your bottom line is a big, yes siree. |
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Edited by
Fanta46
on
Sat 04/04/09 10:06 AM
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Probably guaranteed and legally binding. I've heard the new Administration is working on limiting them, but you really cant void a contract.
Tell that to the airtraffic controllers, or the auto workers, or the teamsters... That was Reagan. |
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Reagan then 'H', then Clinton, then 'W'...
Why not now? The contract between an employer and it's employees has no more weight than any other piece of paper... Why not now? |
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Edited by
Fanta46
on
Sat 04/04/09 10:16 AM
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Let me elaborate a bit!
Reagan- The Nations Air Traffic Controllers went on strike. This paralyzed the Nations Airports and air traffic. They negotiated with the Airlines before striking. When they didnt get everything they wanted, they went on strike. Im not sure how many times they rejected offers during negotiations but they had the oppurtunity and chose to remain on strike. The Gov, Reagan, could not let the air traffic remain paralyzed. It wasconsidered, and rightly so, to be a National Security concern. He gave them a chance to settle. He warned them, and then he allowed scabs to be hired as replacments. |
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No one has forced the Auto Workers out of their contract.
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No one has forced the Auto Workers out of their contract.
Fanta... I first want to express that I salute your service to this country, my friend... 
This statement is so, so false. In fact, there are retirees who have just had their benefits cancelled... discontinued... as of April 1. those retirement benefits were explicitly expressed in their contracts throughout the tenure... Tell me then, how is that not voiding a contract? Why not now? Why not in this scenario with piss poor lending institutions? |
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Founded in 1968, NCLR is a private, nonprofit, nonpartisan, tax-exempt organization headquartered in Washington, DC. NCLR serves all Hispanic subgroups in all regions of the country and has operations in Atlanta, Chicago, Los Angeles, New York, Phoenix, Sacramento, San Antonio, and San Juan, Puerto Rico. There is nothing illegal about La Raza. Right as rain! They are, however the principle supporters for blanket Amnesty. They are using a lot of those Dollars to Legally, push the Dream Act. Could you and the rest of your crew be replaced by cheaper labor? I'd bet your bottom line is a big, yes siree. Obama campaign promise. Amnesty. His puppet, Pelosi, stating, Give them Amnesty and how so many Politicians are gaining, monetarily from all the Corporations and financial institutions, I can see Amnesty for Illegals in your future. I like that phrase, hooked at the wallet. |
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Edited by
Fanta46
on
Sat 04/04/09 10:44 AM
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No one has forced the Auto Workers out of their contract.
Fanta... I first want to express that I salute your service to this country, my friend...
This statement is so, so false. In fact, there are retirees who have just had their benefits cancelled... discontinued... as of April 1. those retirement benefits were explicitly expressed in their contracts throughout the tenure... Tell me then, how is that not voiding a contract? Why not now? Why not in this scenario with piss poor lending institutions? Renegotiation of contracts? Bad investments in Wall Street? Bankruptcy? Is this a guessing game creative or do you have proof that the UAW was forced out of a contract? |
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