The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Fannie and Freddie Jump on Bonus Bandwagon

Apr 6, 2009

Last month, the government gave the giant mortgage companies Fannie Mae and Freddie Mac another 200 billion dollars, on top of the 200 billion it had already given them.

This month, Fannie and Freddie announced they are giving out more than 200 million dollars in bonuses through 2010. That includes over one million dollars apiece to Fannie Mae’s four top executives.

Why wouldn’t they? They saw how hollow the politicians’ harsh words toward AIG were!