Just a few weeks after retention bonuses at American International Group became a national scandal, Fannie Mae and Freddie Mac, the two mortgage-financing giants that the government rescued last fall, have outlined plans to pay an additional $159 million in bonuses to retain employees in 2009 and 2010, on top of the nearly $51 million already paid out last year.
Click here to read the complete NY Times article – and scores of comments
I’m glad to see the outrage against the misuse of taxpayer dollars by financial institutions (see my C-L article 4/5/09) but how long will it take before we agree that the government should be protecting taxpayers by dictating how business is conducted by *insolvent* institutions. Business as usual, financed by taxes, is NOT acceptable! Institutions run for a while under federal oversight could offer some useful competition in terms of fees charged, safer & adequately funded swaps, etc. Marianne Hill
Phil Hardwick - From the Ground Up 
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