Thursday, November 10, 2011


The CEO of Freddie Mac, Ed Haldeman, received a $2.3 million bonus, in addition to his $900,000 salary. Fannie Mae's CEO, Michael Williams, received a $2.37 million bonus.

"The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts…" [my emphasis] In August of this year, Fannie Mae reported a second-quarter loss of$5.2 billion. In November, Freddie Mac reported a third-quarter loss of $4.4billion.

How can this be happening ???