$210 of Fresh Bonuses for Fannie and Freddie
April 3, 2009 4:30 pm
It seems that the game continues. Now it is Fannie Mae (FNM) and Freddie Mac (FRE) that plan to provide bonuses that are sure to fan the flames of an already irate public. Remember we are talking about companies that have been sucking the taxpayer dry for the longest time yet billions of dollars are still being poured down the endless pit. Is it fair? Is it justifiable?
Well, that depends on your perspective it seems. For the 7,600 employees that are eligible for a piece of the $210 million bonus, there is clearly a need as economic times have been tough all around. But, that is not enough reason to give anything to anyone involved as the company is clearly unprofitable. It is time that we look into entitlements and the question of why we, as a country, are content with providing gratuitous trophies, standing ovations and bonuses