Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter.The full story is HERE.
Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in the same quarter of 2010.
This quarter's $6 billion request from taxpayers is the largest since April 2010.
Sure, This is understandable. After all, giving all those bonuses to their executives cuts into the tax payer money they had already gotten:
12.79 million dollars in bonuses will be doled out to ten executives. This cash cow was approved by the Federal Housing Finance Agency. FHFA is the government agency that regulates Fannie Mae and Freddie Mac.
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4 comments:
This is really disgusting.
With respect we are surprised? Of course they think the tax-payers are a bottomless pit to bail them out all the time.
I'm not surprised but I am disgusted.
I try not to get involved in the class warfare, but I believe that Fanny and Freddie have never had Obama say anything, or maybe never DO anything, about the bonuses that the execs get who work there. Are the managers still getting bonuses? is my first question.
AZ
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