Posts Tagged ‘Freddie’

Freddie Mac Pays $680,000 Bonus to Kellermann Estate

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Published in Bloomberg April 30, 2009 by Dawn Kopecki

Freddie Mac, the mortgage-finance company under federal control, paid $680,000 in retention bonuses to the estate of deceased Chief Financial Officer David Kellerman. 

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Freddie, Fannie and AIG – It’s Just Not So Simple

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expert perspective telescopeExpert Perspective by Grahall’s Garry Rogers

In an April 4, 2009 article in the New York Times, “Big Bonuses at Fannie and Freddie Draw Fire”, Times journalist Charles Duhigg reports that
“…the two troubled companies at the heart of the nation’s mortgage market, are set to pay [7,600] employees “retention bonuses” totaling $210 million, despite [criticism and] calls from [some] lawmakers to cancel the payments.’ Duhigg further states, “Similar bonuses paid by the American International Group, which was also bailed out by taxpayers, incited fiery attacks from the White House and legislators when they were revealed last month.” 

So are these situations, one with Freddie and Fannie and the other with AIG, the same or different?  Should we permit taxpayer dollars to be used for bonus payments for any of the “bailed out” companies?  Should government stay out of it, and leave the business decisions to business leaders? 

The answers may surprise you,
Continue reading “Freddie, Fannie and AIG – It’s Just Not So Simple” »

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Big Bonuses at Fannie and Freddie Draw Fire

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Published in the New York Times on April 4, 2009 by Charles Duhigg

Fannie Mae and Freddie Mac, the two troubled companies at the heart of the nation’s mortgage market, are set to pay their employees ‘retention bonuses’ totaling $210 million, despite calls from lawmakers to cancel the payment.

The bonuses, which were made public on Friday, were defended by the companies’ federal regulator, James B. Lockhart, who said he intended to let them proceed.

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