And There's More Outrageous News on Fannie and Freddie
In the wake of news that the Obama administration approved $6 million in bonuses and deferred compensation for executives at Fannie Mae and Freddie Mac on Christmas Eve, MRC’s CNSNews.com recently reported that 70 irate Congressmen sent a letter to Treasury Secretary Timothy Geithner demanding he cancel the massive bonuses for these government-run organizations.
The letter states, “Awarding lavish pay packages with hefty bonuses to government owned entities while still lacking a comprehensive plan for reform demonstrates a disconcerting lack of judgment on the part of the Treasury Department and the Federal Housing Finance Authority.”
Click to see the full CNSNews.com report.
But it gets worse …
In addition to their Christmas Eve gifts, Fannie Mae and Freddie Mac are getting other preferential treatment from the government. They are exempt from newly proposed “bank tax” designed to recoup money that the Treasury Department said was lost through the Troubled Asset Relief Program (TARP). This, despite the fact that over $110 billion in taxpayer money has been given to these two organizations.
Read the complete CNSNews.com story.
Despite the so-called “news” media’s refusal to cover these kinds of stories, the MRC is committed to bringing them to you. Our dedicated staff of analysts, reporters and bloggers work around the clock to provide you with truthful insights that are consistently being ignored by the liberal media.
To stay on top of all the stories the liberal media don’t want you to hear, sign up for CNSNews.com’s daily E-Brief newsletter by clicking here.
I signed up for their newsletter. They put up good stuff!
Comments(5)