Obama warns on Fannie and Freddie golden parachutes

Obama warns on Fannie and Freddie golden parachutes

www.reuters.com

WASHINGTON (Reuters) - Democratic presidential candidate Barack Obama warned U.S. regulators on Tuesday it would be "a gross violation of the public trust" if they did not use their power to block excessive severance payments to executives leaving Fannie Mae or Freddie Mac.

(visit the link for the full news article)

The tax payers burden has doubled with the Federal takeover of Fannie May and Freddie Mac. Obama said Congress gave regulators the power to step in and rescue the companies, it also granted the power to block any severance payments to CEOs.



www.reuters.com
(visit the link for the full news article)

This bail out is wrong, wrong, wrong. I saw Bush43 being interviewed on TV this morning and he tried to call it something else .. I forget the words .. but he prettied it up and called it something other than a tax payer burdened bail out.

I fully and completely disagree with the bail out.

Deals already done, they protect their own you know, the rest of us don't matter ... I mean really ... what are the sheeple going to do? Have an armed uprising?

Sorry Obama ... fail

He'll need legislation to make that happen. Employment law isn't on his side on this one.

Of course, the crooks will get their payments.

Rewarding incompetency is the American Way.

[edit on 9-9-2008 by loam]

reply to post by loam
Yes rewarding incompetency is the American Way. Just goes to show how out of touch the American public really is , including our government .

Originally posted by L.HAMILTON
reply to post by loam

 

Yes rewarding incompetency is the American Way. Just goes to show how out of touch the American public really is , including our government .

Au contraire..! Our mega elite is exquisitely competent at what they do best - screwing the sheeple up the poop shoot and wiping their own butts with the constitution...they've been at it for several decades - the banking industry has been whittling away at those pesky regulations for 75 years now and voila - almost complete now except for the fat lady singing...the storm around this upcoming election is a testament to the generous nature of the American people - they still cling to the hope that there is some good intent in those who govern at the highest levels - still looking for a leader among the wolves - but that search may come to and end with this next administration whoever it falls to -

If our upcoming leadership does not have the cahones to stand up to entrenched corruption, corporate greed and the myriad of other systemic issues we face as a nation - theys gonna be some hard A$$ times ahead and folk will have to learn the lessons of our grandparents all over again...don't mean to be doom and gloomin - but I see the light at the end of the tunnel and its an oncoming train...