here we go again!
http://news.yahoo.com/s/ap/20090403/ap_on_bi_ge/mortgage_giants_bonuses
facepalm
.
The companies paid out nearly $51 million last year, are scheduled to make $146 million in payments this year and $13 million in 2010.
Keeping the companies “operating at full speed was best for the housing markets and best for the economy,” Lockhart wrote. “That would only be possible is we retained the Fannie and Freddie teams.”
Well there ya go. The government wanted Freddie and Fannie to survive, they paid them to survive and “Operating at full speed”, the bonuses were only given, or promised to make sure what the government wanted to happen actually happened. In a sick sort of twisted fate, we got what we paid for, the exact same thing that has been happening for a long time…operating at full speed.
All systems go, full steam ahead, this starship is to big to fail!!!
~Matt
On a bright note that’s 210 million for 7,600 employees, only an average of 27,631 per. AIG was something like 165 million for 400 employees average around 413K per. So obviously the AIG employees are greedy and these bonuses were simply “Necessary”
~Matt
But, but, they have government oversight!! How can this be…
Change I tell you change!
On a bright note that’s 210 million for 7,600 employees, only an average of 27,631 per. AIG was something like 165 million for 400 employees average around 413K per. So obviously the AIG employees are greedy and these bonuses were simply “Necessary”
~Matt
Thanks for that “bright” note.
How about some exit bonuses for congressmen.