Gay Patriot Header Image

I wonder what Barney Frank has to say about this

Posted by GayPatriotWest at 4:25 pm - March 18, 2009.
Filed under: 111th Congress,Liberal Hypocrisy

BONUSES FOR Fannie Mae execs? “Fannie Mae is planning to pay retention bonuses of as much as $611,000 each to several top executives of the government-controlled mortgage finance titan. Sibling company Freddie Mac is planning similar awards.”

Share

18 Comments

  1. Wow how the mighty have fallen. Today Obamateleprompter standing next to his tax cheat Treasury Sec said “this guy is working hard, no one is working harder than ole Brownie”…..oops I mean Timmy.
    I just can’t get over all the promises Obamateleprompter made during the campaign. He was gonna be different. But none of the boobs, crooks or idiots in this administration get fired. I personally hope the President stands by his tax cheat Treasury Sec for months and months and..

    Comment by Gene in Pennsylvania — March 18, 2009 @ 4:59 pm - March 18, 2009

  2. Now we hear Obamateleprompter is lowering the standards even furthur for sitting Presidents. He is goin on Leno tomorrow nite to do a skit. Lordy lordy look at all the freaks.

    Comment by Gene in Pennsylvania — March 18, 2009 @ 5:45 pm - March 18, 2009

  3. If you heard Barney Frank today going after AIG chairman Liddy, it was really scarey. Frank did everything he could to challenge and threaten the members of that firm who got bonuses. This govenment going after citizens seems a bit fascist to me. Liddy asked that he not be made to publically name the people who got bonuses because of threats to their safety. With Franks heated attack, there will be even more leftists looking for revenge. It was the govenment who made the AIG deal months ago. If they didn’t read the legislation, it’s not the fault of the workers who got bonuses. As usual you have congress people after the fact and the horse has left the barn, who start throwing stones. These idiot Democrat congress people don’t do their jobs before hand and threaten people after the fact. When they appear to be idiots.

    Comment by Gene in Pennsylvania — March 18, 2009 @ 5:51 pm - March 18, 2009

  4. It gets better, Congressional Democrats voted down a plan to withhold the bonuses.

    Comment by V the K — March 18, 2009 @ 6:16 pm - March 18, 2009

  5. Can Barney Frank please just say that he is guilty and resign from Congress? I should post a list of some more Democrats and Republicans who should just say that they were involved in this mess and do the honorable thing and resign. But there is no shame in Washington.

    Comment by Swampfox — March 18, 2009 @ 9:30 pm - March 18, 2009

  6. There is no shame on Wall Street or in Washington, just finger pointing. Who can really believe that Bernie Madoff could have carried out his Ponzi scheme all alone? If these people who are getting bonuses in any of these companies that received bailout money had any honor they would refuse them.

    Comment by Swampfox — March 18, 2009 @ 9:41 pm - March 18, 2009

  7. Well it took a few days but the truth from these Democrat crooks is finally starting to leak out.
    http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/
    Dodd “remembered” the Dems put in the loopholes.
    We’ll see if starting Thursday these pompus Democrat chairmen like Barney (I’m a crook too) Frank haul their own before their committees and grill them the same way they grill business people. And oh don’t look for Obamateleprompter anytime soon. After his Patties Day parties he’s jetting off to LA to yuck it up doing skits with Leno. Apparently no work to do in Washington DC. Wonder why his poll ratings are plummiting.

    Comment by Gene in Pennsylvania — March 18, 2009 @ 10:06 pm - March 18, 2009

  8. [...] FANNIE MAE BONUSES: “I wonder what Barney Frank has to say about this?” [...]

    Pingback by Instapundit » Blog Archive » FANNIE MAE BONUSES: “I wonder what Barney Frank has to say about this?”… — March 19, 2009 @ 7:45 am - March 19, 2009

  9. I wish I could go back and find any comments by Frank, Dodd, Obama or ANY prominent Democrat when Fannie imploded last year. What did they have to say about Franklin Raines’ NINETY ONE MILLION compensation in just 5 years. Oh, and let’s not forget that Raines pleaded guilty to cooking the books to generate those huge bonuses!

    Were they outraged at that?! Somehow I don’t recall their condemning the excessive Fannie Mae compensation packages given to Raines, Jim Johnson, Jamie Gorelick and Rahm Emanuel. I’d love to see a side by side comparison of their comments back then vs. their faux outrage at AIG.

    Comment by jeanne — March 19, 2009 @ 8:07 am - March 19, 2009

  10. If the government had any honor they wouldn’t be talking about how they could legally confiscate what was contractually agreed to. For continuity purposes, you offer retention bonuses to keep people for a length of time in order to avoid having to continually have to get new people up to speed. The bonuses should not have been offered in the first place then you would be taking the chance on possible high turnover. The top talent would leave the company as its obvious that there is no future there and you are left with the dregs trying to wrap things up which is going to cost the taxpayers even more in the long run. If I was in the position of having a retention bonus offered, I would take it and never consider giving any or all of it back.

    Comment by JohnnyL — March 19, 2009 @ 8:49 am - March 19, 2009

  11. I seem to recall reading somewhere back when all this mess started that Barney Frank had a previous ‘relationship’ with one of the top people at Freddie/Fannie. Is Barney’s former ‘amour’ one of these four people getting the bonus? It would certainly be interesting if someone could track this information down. I know that Barney was a big recipient of ‘campaign funds’ (i.e., legalized bribery) from the folks at Freddie/Fannie. Given his past involvement with the male House pages, it seems that Barney the Babbling Buffoon has his…..er, hands….in every dark hole in Wash DC. Lord, the man is an absolute embarassment to gay folks like myself.

    Comment by Mart Martin — March 19, 2009 @ 9:12 am - March 19, 2009

  12. Responding to #6, please don’t impune the honor of all the employees of all the major banks. Some of us work for companies that were asked to take the TARP money. We didn’t need it or want it. BTW, the TARP money isn’t charity. It’s an investment the government chose to make which is currently paying them an attractive rate of interest with valuable conversion rights. So far the tax payers are making good money on their investment in my firm. Incentive compensation is integral to the way the finance industry works, just as in any commision or pay for performance industry. The government has no business taxing one group of employees at a higher rate than others simply because of which company they work for.

    Comment by DarkHelmet — March 19, 2009 @ 9:25 am - March 19, 2009

  13. Has anyone demanded that Raines return the $90 million bonus he took from Freddie Mac, after moving Freddie Mac towards bankruptcy?

    Will Barney Frank be grilled by Congress about his key part in keeping Congress from regulating Fannie and Freddie?

    Will the MSM ever question either Raines or Barney Frank and their significant contributions to the meltdown? NO!

    Will the American people ever realize that Raines and Barney Frank have done more damage to the USA than Madoff? MAYBE.

    Comment by Louise in California — March 19, 2009 @ 9:28 am - March 19, 2009

  14. Two things about the bonuses: 1) the MARKET was already canceling not just the bonuses but the salaries of those clowns at AIG; they were going broke, and they should be in bankruptcy right now. The only reason they’re not is because geniuses like Barney Frank voted to hand them tens of billions of freshly-inflated dollars that they didn’t earn.

    2) The bonuses altogether are around ONE PERCENT of the money that the congress has voted to waste on letting AIG stay alive. This is a trivial distraction from the real issue: why do we allow the congress to rob taxpayers and anyone holding US dollars to keep their biggest campaign contributors afloat?

    Barney’s huffing and puffing about the bonuses so that people won’t ask him the questions he doesn’t want to answer about who’s bought and paid for him.

    -jcr

    Comment by John C. Randolph — March 19, 2009 @ 9:40 am - March 19, 2009

  15. Frank epitomizes everything that is wrong with Congress. And now I can’t even read his name without hearing Rush’s parody “Banking Queen” in my head. Very fitting. I wish he’d fall on HIS sword.

    Comment by Peg C. — March 19, 2009 @ 10:19 am - March 19, 2009

  16. jcr-
    “2) The bonuses altogether are around ONE PERCENT of the money that the congress has voted to waste on letting AIG stay alive. This is a trivial distraction from the real issue: why do we allow the congress to rob taxpayers and anyone holding US dollars to keep their biggest campaign contributors afloat?”

    It’s even more trivial. $165M is 1/10 of ONE PERCENT of $170B. It is very bad PR for AIG but if Barney wants to eliminate “rewarding failure” I’ll be looking for resignations from 90% of Congress. Oh.. and lots of hopey changey stuff.

    Comment by james w. — March 19, 2009 @ 11:58 am - March 19, 2009

  17. Frank ought to put his money where his mouth is and pay back every dime of salary, benefits and pension has been paid or accrued for every year he has been in Congress. The bonuses are not even loose change compared to what that worthless bastard has done to this country.

    Liddy should have told him to go fuck himself and said ‘here is your buck, your badge, I quit and good luck in finding anyone willing to work for you asshole’ and walked out of the hearing.

    Comment by cubanbob — March 19, 2009 @ 11:55 pm - March 19, 2009

  18. Barney Frank is a joke.

    Term limits. We need to toss out all of them and then rotate them out before they get as stupid as Frank.

    Comment by Al Brown — March 20, 2009 @ 6:11 am - March 20, 2009

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.