Fannie and Freddie may lose as much as $6.6 Billion!?!? Wow, the way these guys act, they can do no wrong! The companies can be difficult to work with, although if you're high volume, variances are easy to come by. In the end, it's difficult to comprehend why the companies aren't scrutinized more...and held responsible for their actions and their unworldly losses. See http://player.clipsyndicate.com/main/player?playlist_id=156&clip_id=1006993&cpt=8&
Look at the above video, then consider this report from Reuters from June 21 which reports that "Several of the top executives with mortgage finance company Fannie Mae will receive over $1 million each in bonuses under a plan announced on Thursday. Daniel Mudd, the chief executive officer, will receive almost $1.9 million worth of company stock while chief business officer Robert Levin will be granted roughly $1.74 million worth of stock for 2005 and 2006." See http://today.reuters.com/news/articleinvesting.aspx?type=comktNews&rpc=33&storyid=2007-06-21T213650Z_01_N21200582_RTRIDST_0_FANNIEMAE.XML
I guess million dollar bonuses really aren't but a drop in the bucket compared to billions of dollars in losses.
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