Lawmaker sees Fannie, Freddie bonus insult | »
Posted By Klarissa 7 months, 3 weeks ago in NewsWASHINGTON, April 3 (Reuters) - Continuing bonuses paid to
employees at Fannie Mae
The bonuses for 7,600 employees will total about $210 million over 18 months, the Wall Street Journal reported on its website, quoting a letter to Grassley from the director of the Federal Housing Finance Agency, which regulates the companies.
About $51 million in bonuses was paid in late 2008 and the rest is to be paid in 2009 and early 2010, the newspaper said, quoting the letter from James Lockhart.
The largest bonus for any individual will total $1.5 million, the newspaper said.
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Klarissa
Berkeley conservative. Don't ask to be my friend unless you have a real bio.Eat your dessert first, life is uncertain. Bridge player, water ...
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RedRiverJ7 months, 3 weeks ago
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FTA-"The elite in Washington and New York need to realize that bonuses for poor performance and at taxpayer expense do a lot of damage to public confidence."
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The only thing the public can be confident in is we are assured of getting the shaft. -
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libsRfunnyComment removed: Hard Banned2 Replies
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canadianrancher577 months, 3 weeks ago
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When you realize that the bonuses started in 08 it shows that really government doesn't give a damn regardless which party it is. There are usually three levels of government in an area and each of these levels continue to grow and cost the people more with each passing day, and the beaurocracy that is contained within each of these levels of government seem to have their own agenda for what is going to be done, I would be curious to know who recomended the bonuses or are they an ongoing program.
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fsev417 months, 3 weeks ago
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When did these huge bonuses became a staple of executive compensation? Stock options and other perks have been around for a long time but I just don't remember hearing so much about performance bonuses until about the last ten years. Perhaps there needs to be special tax treatment for compensation above stated "salaries". A much higher tax rate would be my choice on any supplementary compensation above $500. This would allow for the old stand-by Christmas bonus.
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k9kssr7 months, 3 weeks ago
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http://www.propeller.com/story/2009/04/04/administ...
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This may be how some banks get to keep bonuses and some are under fire. -
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k9kssr7 months, 3 weeks ago
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Wolfie,
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Essentially yeah....according to the Moyers/Bill Black interview, there is much more to the AIG and major banks collapse than we are being told. The banks are in on a government coverup.
Geithner is in this up to his neck and why do you think Obama appointed one of the AIG board members as one of his "tax reform" members?-
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Wolfie20077 months, 3 weeks ago
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k9k
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Yes, and there was no mention in the Moyer interview regarding the 65 billion AIG sent to European banks. Still would like to know what that was all about and would like to know if Congressional and government workers pensions are/were insured by AIG. So many questions so few answers, where's the transparency?
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