Fannie and Freddie In Trouble

Discussion in 'Current Events' started by rayboyusmc, Sep 6, 2008.

  1. rayboyusmc
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    rayboyusmc Senior Member

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    Damn Clinton, he set this all up when he was in office.:lol:

    I wonder if the CEOs will get a big bonus when they leave?:mad:

    Government may soon back troubled mortgage giants - Yahoo! News
     
  2. Dirt McGirt
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    Dirt McGirt Bad Mother****er

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    I blame the idiot people that listened to the dumbasses that were yelling how this was the best economy ever and to go out and buy a house and all that other shit when they couldn't afford it.

    "Here's your tax rebate check, it's your duty as an American to spend it on a big screen TV."

    Morons.
     
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  3. glockmail
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  4. glockmail
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    glockmail BANNED

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    Barack Obama Taps Former Fannie Mae CEO Jim Johnson to Help Choose Running Mate - May 22, 2008....
    Johnson served as Fannie Mae CEO from 1991 to 1998 and has a long history in both Washington politics and business. ...... He was an executive assistant for Vice President Walter Mondale (1977-1981) and a U.S. Senate staff member. Johnson also helped screen running mates for Democratic presidential nominees Walter Mondale in 1984 and John Kerry in 2004. http://www.freerepublic.com/focus/f-news/2082944/posts
     
  5. glockmail
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    As CEO of Fannie Mae, Johnson... was the beneficiary of accounting in which Fannie Mae's earnings were manipulated so that executives could earn larger bonuses. The accounting manipulation for 1998 resulted in the maximum payouts to Fannie Mae's senior executives -- $1.9 million in Johnson's case -- when the company's performance that year would have otherwise resulted in no bonuses at all, according to reports in 2004 and 2006 by the Office of Federal Housing Enterprise Oversight. Obama's Choice of Insider Draws Fire
     
  6. glockmail
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    The chiefs of the nation's two largest mortgage lenders reaped roughly $30 million in salary, incentives and other perks last year, despite setting their banks on courses which now may require government bailouts.

    Daniel Mudd, the CEO of Fannie Mae, received $11.6 million in salary, stock and other compensation for 2007. Richard Syron, CEO of Freddie Mac, took home about $18.3 million last year.

    In addition to Syron's salary, stock options and a $3.45 million bonus, Freddie Mac paid for a number of other perks for Syron, such as a car and driver, a home security system, travel costs for his wife, even $100,000 to pay his lawyer to negotiate his employment contract with the bank.

    ABC News: CEO Salaries Weather Mortgage Crisis
     
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  7. glockmail
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    **crickets chirping**
     
  8. rayboyusmc
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    rayboyusmc Senior Member

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    Hmmm, Glock, missed this one.

    Check out how much McCain was given. I guess it's easier to just glock Obama than be honest,
     
  9. sealybobo
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    sealybobo Diamond Member

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    You don't blame the lobbyists and politicians that deregulated the industry knowing this would happen? Most state attorney generals warned the Bush regime back in 2002 that the predatory lending would occur and the Federal government over rid the states that said they didn't want sub prime loans in their states.

    I have to admit, you are a smart guy from what I read, and even you are under informed about what the hell the GOP did from 2000-2006 when they ran it all.

    Did the Federal Reserve bail out the home owners? No they did not. So are you saying you don't blame the banks that got bailed out? You don't blame the predatory lenders that sold the loan and then sold off the loans to the bigger banks and washed their hands of the bad loans they knew would turn into bad loans.

    I blame the people who gave the original loans. Countrywide and Quicken type companies.

    Do you really think they were innocent?
     
  10. sealybobo
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    sealybobo Diamond Member

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    Don't glock. Tell the truth. You are such a glockhead. Suck my glock. You don't know glock. Glock off. Kiss my glock.:lol:
     

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