Posted on 09/20/2008 2:03:24 PM PDT by decimon
The troubled mortgage finance giant announces restructuring of organization with more direct reports to CEO.
WASHINGTON (AP) -- Mortgage finance giant Fannie Mae, taken over by the government earlier this month, announced Friday the resignations of four senior executives and said it was restructuring its organization.
The company, the biggest buyer and guarantor of home loans in the country, and its sibling Freddie Mac (FRE, Fortune 500) were taken over on Sept. 7 in a rescue plan that eventually could require the Treasury Department to put up as much as $100 billion for each of them over time if needed to keep them afloat as mortgage losses mount.
(Excerpt) Read more at money.cnn.com ...
Where have I heard the name Moffett and Allison. They were friends of someone.
Note to financial institutions.....if someone had the bad sense to marry David freakin’ Gregory then they are probably not best-suited to work for your company.
I think all pensions especially of Congress people should be forfieted in light of this failing. They think they have that cushy little pillow to fall back on. I don’t think so. They cheated for it and it should not be paid to them. In fact all of these people whether politician or not should be made to pay down our debt. My goodness; they have stolen enough money too.
Wonder what kind of “golden parachute” they get for resigning.
I'm guessing they will be living better than I do.
Would this be the unfailing obje-e-e-ective David Gregory? The smarmy, ankle-biting, yapping, pee-on-the-carpet David Gregory. The "journalist???" Certainly there would be no conflict of interest in his ray-poor-tage, though, now would there be?
Oh, how I wish there was an effective way of conveying sarcasm and disgust through the written word.
Resigning? And how much of the taxpayers money are they taking with them? Certainly not as much as Jamie Goerlick.(sp)?
You did good.
I just got through watching a Fox News Watch episode where Pinkerton excoriated the press for not seeing and reporting on ths scandal...and now this. How could the media be any more in bed with the story???- maybe they want us to belive that they are like Matalin and Carville and they never bring their work home. And Freeh? Seriously? What was Fannie May- and landing strip for incompetence?
“What was Fannie May...?”
Payoffs, corruption and the raping of the American taxpayer.
From, of all places, MSNBC: “Report: Fannie Mae manipulated accounting Executive bonuses drove practices; mortgage giant fined $400 million”
http://www.msnbc.msn.com/id/12923225/
From Google:
Fannie Mae reported paying the following executive bonuses in 1998:
chairman and chief executive James A. Johnson received $1.932 million;
Franklin D. Raines, chairman-designate, received $1.11 million;
Chief Operating Officer Lawrence M. Small received $1.108 million;
Vice Chairman Jamie S. Gorelick received $779,625;
Chief Financial Officer J. Timothy Howard received $493,750; and
Robert J. Levin, an executive vice president, received $493,750.
“Money for nothin’ and your chicks for free.”
The name Ken Bacon is familar. I believe he ran the Resolution Turst in a previous incarnation.
The MSM i commits incest with political operatiovs and we the little people are supposed to accept their bias. Someone needs to make a list of all the media that is married to political opperatives etc.
I believe the Lawrence M. Small noted in your list of officers is the same man who was formerly Secretary of the Smithsonian Institution and discharged in March 2007 for persuing a “Dom Perignon lifestyle.”
“Dirty little secret is how many members of the press and their families are engaged in corruption.”
brings to mind (in nasally voice)...
Andrea Mitchell, NBC News...
boinking whom?... Mr. Greenspend us into oblivion
the Deets
ping
bumpity uppity
Came across a tidbit I thought should be part of the record, so am adding it here:
In 2007, Beth Wilkinson contributed the max to CHRIS DODD.
While she was General Counsel of Fannie Mae. How cute.
from here:
http://fundrace.huffingtonpost.com/neighbors.php?type=name&lname=Wilkinson&fname=Beth
Beth Wilkinson
Attorney
Fannie Mae Updated
Q2/2007
Christopher Dodd
$2,300 4540 DEXTER ST
Washington DC
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