Posted on 03/20/2009 10:02:46 AM PDT by Sub-Driver
Frank asks Freddie, Fannie to halt bonuses By Silla Brush Posted: 03/20/09 12:21 PM [ET] As Congress races to claw back bonus payments at firms taking government bailout cash, Rep. Barney Frank (D-Mass.) on Friday called on Fannie Mae and Freddie Mac to cancel payments at the mortgage giants now under government control.
Fannie Mae is set to pay retention bonuses, with some top executives at the mortgage giant planning to receive more than $1 million. Freddie Mac has yet to release bonus figures.
Frank wrote a letter on Friday to James Lockhart, head of the Federal Housing Finance Agency, the government agency overseeing the mortgage firms, urging the agency to use its authority to rescind the bonuses.
"I urge you to use that authority now to reconsider the retention programs at Fannie Mae and Freddie Mac, cease any further payments and recover previous payments under those programs," Frank said.
Amid the public outcry over insurance firm AIG paying $165 million in retention bonuses, the House on Thursday passed a bill to tax bonuses at 90 percent for anyone working at a firm receiving at least $5 billion in bailout aid under the government's $700 billion financial rescue package. The tax would apply to any individual or household with income exceeding $250,000.
(Excerpt) Read more at thehill.com ...
Ok now it’s time to organzie a bus load of children to tour Franklin Raines’ home! LET’S GO!
Uniting Frank with Freddie(’s) Fannie is just, plain WRONG !
More like a freak show at a carnival.
The CRA, the democrats such as Barney Frank who have long protected Fannie and Freddie from any political criticism are directly responsible for the current economic and financial mess our country is in. Of course they will blame Bush and anyone else other than themselves because that is what they do. Its never them, its always somebody else.
Show Bawney Fwank what happens when Atlas shrugs.
Since you are so adept at executing tax decisions, especially those that are retroactive, on the Kingdom (one known as America), why not go back to say, Franklin Raines, Bob Johnson and others and grab their billions as well as your former lover who was employed by the two government operated shell games.
It takes a lot of gall for someone who didn’t know his boyfriend was running a prostitution ring in his own house to tell others how to clean up their houses.
What, no outrage on the Congressional floor? No spittle? Has he subpoena’d the names of Fannie’s employees? Just a business-like letter “urging”?
Organize tours to circle all Congress’ and Senators’ homes... might at well tour the White House too... make it a 3 ring circus...
Ruh roh.
Fannie and Freddie have been Bawny Fwank’s and the Democrats’ sugar daddies for years now. This can’t sit well over at those fine institutions.
It would really be rich if there were union organized rent-a-mobs protesting outside Fannie & Freddie. I’d pay money to see that.
Rep. Barney Frank: “The Mafia guys were very helpful to me”
Friends of Ours
Posted on 03/19/2009 11:32:22 AM PDT by AtlasStalled
http://www.freerepublic.com/focus/f-bloggers/2210106/posts
So, Barney Fwanks is returning all his “dirty” campaign contributions from the toxic finance industry.
That’s right. Either give up the bonuses or the federal government will tax you at 90% and release your names and addresses to the world.
“Frank asks Freddie, Fannie to halt bonuses”, there is just something WRONG with this statement. (scratching head)
good post.
“Hawt! you wascally wabbits....”
“Frank asks Freddie, Fannie to halt bonuses”, there is just something WRONG with this statement. (scratching head)”
When I first read the thread title quickly I thought I read bonuses as bon ending in ers.
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