Posted on 07/11/2008 3:33:56 AM PDT by Jan Hus
Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.
(Excerpt) Read more at nytimes.com ...
The beginning?
Outrageous. The directors of these organizations made TENS of MILLIONS in salary — all big Dems, too — if they were worth paying $26 million dollars to, why do we have to bail the companies out now? I want ENRON hearings!! If Ken Lay can go to jail, so can these jerks!
Government take over. The Republicans are sounding more like the socialists Democrats with each passing day.
Make millions, and then ride off into the sunset and let the taxpayer foot the bill. Is this a great country, or what?
You forget the following:
1. It's on Bush's watch, so he will get the blame.
2. The Libs control Congress, so who do you think will get the blame?
3. Yes the problems started under the Clinton watch, but see # 1 and # 2.
I have been a consultant on the Fannie Mae restatement project for over 3 years. It is NOT their fault. The restatment is over and they have been caught up for almost a year. The old managemnet was fired over a year ago.
Jamie Gorelick was NOT fired “over a year ago.” This ex-Clinton Justice Department official is LIABLE for mismanagement!!
Maybe you are thinking of Franklin Raines, who earned about $30 million, and was formerly at the Robert Wood Johnson Foundation—yes, he was smart enough to leave about a year ago...
Correct! Fannie Mae and Freddie Mac were favored patronage jobs for bigwig Democrats including Jamie Gorelick who protected the Clinton Administration on the 9/11 commission. These Democrats collected big time bonus awards based upon fraudulent accounting. The media will not press this issue if it is even reported.
And, in your role as consultant, have you ever been to the palatial, grandiose, luxurious headquarters of Fannie Mae on Wisconsin Avenue in Washington, DC, all paid for by the mindless robots who pay taxes????? JUST CURIOUS!!
Carolyn
I went there for orientation three years ago. That was the only time. Our offices are in Herndon.
That office is chump change. I was an employee at Freddie Mac. They have a huge campus of 6 buildings in McLean. We were living high on the hog there.
bad idea.
The US Government cannot even run their own agencies productively and within budget....now this?
It would almost be worth it for the Bush Administration to force a bailout before the election, just to show the public how corrupt the Democrats in Congress are.
“Government take over. The Republicans are sounding more like the socialists Democrats with each passing day.”
They are all globalists.
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