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A House committee approves a bill that will put employees of Fannie Mae and Freddie Mac on a...

A House committee approves a bill that will put employees of Fannie Mae and Freddie Mac on a federal pay scale and will suspend controversial compensation packages for top executives. Rep. Spencer Bachus - chairman of the House panel that led discussion on the issue - counters spirited defense of the lavish compensation policies approved by FHFA Director Edward DeMarco and key Senators by saying the bonuses are "unreasonable and unjust to taxpayers."
Comments (7)
  • Drew Robertson
    , contributor
    Comments (347) | Send Message
     
    Spencer Bachus? Now where have I heard that name recently?
    15 Nov 2011, 05:08 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    Congressional insider trading is "unreasonable and unjust to taxpayers".

     

    Shit, wrong headline. So, it's "reasonable and just" for congress critters to trade with insider info. Bash the FM's to draw attention away.

     

    Got it.
    15 Nov 2011, 05:09 PM Reply Like
  • vboring
    , contributor
    Comments (203) | Send Message
     
    This sounds like a solution for TBTF banks.

     

    You will get bailouts - and since your job only exists because of the government backstop, you get paid like a government employee.

     

    Why hasn't this happened at AIG?
    15 Nov 2011, 05:16 PM Reply Like
  • davidbdc
    , contributor
    Comments (3183) | Send Message
     
    Only problem is that at $126k per government employee they are more expensive than the average banker!!!!!
    15 Nov 2011, 05:39 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (9619) | Send Message
     
    Bachus is a criminal.

     

    Might as well have OJ oversee Fannie Mae.
    15 Nov 2011, 05:58 PM Reply Like
  • _Jimmy_
    , contributor
    Comments (34) | Send Message
     
    Come on not OJ.

     

    How about Bernie?
    15 Nov 2011, 08:45 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    About time. FNMA and FHMA are just being used as places to reward political hacks (and flush through political contributions).
    15 Nov 2011, 08:04 PM Reply Like
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