Fannie Mae Lost $23.2 Billion Due to Foclosure Homes in the 1st quarter - Who do you think pays for that? »
Posted By altnrg 7 months, 3 weeks ago in NewsFannie Mae lost $23.2 billion due to large numbers of foreclosure homes that it had guaranteed. It has asked for billions more in funding from the U.S. Treasury.
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libsRfunnyComment removed: Hard Banned
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nostalgia7 months, 2 weeks ago
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Where's the outrage over this??
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March 19, 2009
Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.
Executive vice presidents Kenneth Bacon, David Hisey, Michael Williams and Thomas Lund will be receiving bonuses of close to half a million dollars each. Bacon supervises community development for the company, Hisey is its deputy chief financial officer, Williams is its COO and Lund oversees the single-family mortgage business.
By contrast, Fannie Mae CFO David Johnson received no bonus on top of his salary of $625,000, while CEO Herb Allison received no compensation or bonuses in 2008 or 2009.
A spokesman for Fannie Mae deferred comment on the bonuses to the Federal Housing Finance Agency.
The bonuses were necessary to keep Fannie's most experienced executives working to reverse the effects of the mortgage crisis, FHFA Director James B. Lockhart told CNN.
http://www.cnn.com/2009/POLITICS/03/19/fannie.bonu... -
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nostalgia7 months, 2 weeks ago
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It's obvious that Washington is going to control the cars Detroit builds
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U.S. Energy Department to award $10 billion for auto retooling
President Barack Obama's budget proposal, released Thursday, also boosts vehicle research spending and earmarks money for Great Lakes restoration. But it cuts hydrogen fuel cell research money and eliminates an army vehicle program that could have meant jobs for Michigan.
Detroit's Big Three have sought about $20 billion in loans, while another 70 electric car start-ups, parts makers and even Nissan Motor Co. have applied for loans. In total, 75 companies have sought $38 billion in loans.
The loans are to retool factories to build high-mileage small cars, fuel-efficient plug-in hybrids and other efficient vehicles. The loans also can apply to parts and batteries for those fuel-efficient vehicles.
But the administration radically cuts hydrogen research after the Bush administration spent $1.2 billion on developing hydrogen fuel cell vehicles over five years. The administration proposes cutting it from $169 million this year to just $68 million in 2010.
http://www.detnews.com/article/20090508/POLITICS03...
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lloydm657 months, 2 weeks ago
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Nothing is too big to fail,let's take the country back,and shut them down.The main culprits,besides Fanny,and Freddie is ACORN,and Obama.They insist on more sub-prime.Obama built his career on getting loans to people who couldn't possibly pay them back.How long did he,and his thugs think this could last.Obama raised hell when McCain wanted to tax health care premiems to help the unisured,well guess what!Its happening as I type.Poor miss guided voters,what have you done?
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wdfisher577 months, 2 weeks ago
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I am with you pal. Thanks Barney Frank and Chris Dodd, your total combined insights into the Fannie Mae and Freddie Mac areas aren't worth the price of a bucket of warm spit. How you two still have jobs is puzzling? That you are still in charge of and running Congressional subcommittees related to the banking and investment industries is both troubling and scary. You would have been on the initial casualty lists if it were up to me.
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wdfisher577 months, 2 weeks ago
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I am with you pal. Thanks Barney Frank and Chris Dodd, your total combined insights into the Fannie Mae and Freddie Mac areas aren't worth the price of a bucket of warm spit. How you two still have jobs is puzzling? That you are still in charge of and running Congressional subcommittees related to the banking and investment industries is both troubling and scary. You would have been on the initial casualty lists if it were up to me.
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Icantwait7 months, 2 weeks ago
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My Fellow Americans: Where are all the Damocrats in response to this exciting News for them. Frank-en-Stein, and Do-Do-Dodd said we did not have to worry about Fannie and Freddie. All they needed was just a couple 100 Billion more and we would be perfect. Guess What? The President Agreed or maybe Ahhh-Greed. Guietner our Roller Skating Treasury Boy had it all worked out but since they had a little set back it is time for another SubMit Conference. I'm so glad we have Obamanism to fall belly up on. There Party won't last forever and maybe the country as well since Wednesday Party Man is thinking of releasing the Taliban Captives into the American General Public Neighborhoods. Have Faith the Messiah might but God won't let us down. The Real American
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