Freddie Asks for another $30.8 Billion More for Foreclosures »
Posted By altnrg 9 months, 3 weeks ago in NewsFreddie Mac has asked the U.S. Treasury for an additional funding of $30.8 billion to enable it to continue carrying out its mission of helping avert further foreclosures. In the fourth quarter of 2008, Freddie lost $7.37 per share, totaling $23.9 billion.
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DarkWizard9 months, 3 weeks ago
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The current administration has to stop playing into the folly of the last administration soon. Playing footsies with Freddie, Fannie, AIG, and the banks is sending America down the wrong path.
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At some point we will have to face the realities of the situation and cut our losses.-
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nostalgia9 months, 3 weeks ago
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The insiders are protecting their own:
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The Real AIG ScandalIt's not the bonuses. It's that AIG's counterparties are getting paid back in full.
we need to go back to the very first decision to bail out AIG, made, we are told, by then-Treasury Secretary Henry Paulson, then-New York Fed official Timothy Geithner, Goldman Sachs CEO Lloyd Blankfein, and Fed Chairman Ben Bernanke last fall. Post-Lehman's collapse, they feared a systemic failure could be triggered by AIG's inability to pay the counterparties to all the sophisticated instruments AIG had sold. And who were AIG's trading partners? No shock here: Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, and on it goes. So now we know for sure what we already surmised: The AIG bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already.
http://www.slate.com/id/2213942
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nostalgia9 months, 3 weeks ago
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Fannie plans bonuses of $1M for 4 execs
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Fannie Mae plans bonuses of $1M for top executives; Freddie Mac has similar plans
Fannie Mae plans to pay retention bonuses of at least $1 million to four key executives as part of a plan to keep hundreds of employees from leaving the government-controlled company.
Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.
The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 billion.
http://finance.yahoo.com/news/Fannie-plans-bonuses...
Fannie and Freddie have Congressional cover in Dodd and Frank
Wonder if people will be as outraged over this??? -
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tracihamr9 months, 3 weeks ago
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Fannie Mae plans to pay retention bonuses of at least $1 million to four key executives as part of a plan to keep hundreds of employees from leaving the government-controlled company.
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I say, why make AIG give all of their bonuses or part, and FANNIE MAE AND says that they will pay their's so they will stay with them, I say NO TO MORE MONEY FOR FORECLOSERS, How do we know that is where it will be spent. They all ready stasted that they will pay their high ups to keep them.
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