The Housing Hole Deepens | FrontPage Magazine: "The gravy train at Fannie Mae and Freddie Mac keeps pouring out millions in pay to the top executives running the disgraced tax-funded mortgage companies no matter how poorly they perform. As CNNMoney.com reported Dec. 31, Fannie (FNMA) chief executive officer Michael Williams and Freddie (FMCC) CEO Charles Haldeman each stand to rake in $6 million as indicated by company filings that outline pay guidelines, plus deferred compensation of an unknown amount.
These are rewards for a period when the federally supported companies suffered $28 billion in losses through three quarters of 2010 as well as running up the bill at the U.S. Treasury of $150 billion. How proud all Americans must be, especially those on whose homes have been foreclosed. And to think these appointed “saviors” of the housing market now run the biggest lenders of risky mortgages that were largely the cause of the housing bubble and the ensuing collapse of the American economy."
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