Friday, March 20, 2009

Fannie, Freddie Decry Bill to Tax Bonuses

Since we're in the Ex Post Facto game, maybe it's time for ex-Chairman Franklin Raines* and Vice-chair Jamie Gorelick to cough up the loot they made at Fannie. Throw in Bob Zoellick (EVP, lobbying) now head honcho at the World Bank, just to keep it bipartisan.
From the Washington Post:

Proposal Could Put Housing Recovery Programs at Risk if Employees Leave
Legislation to severely tax bonuses at companies receiving government aid may imperil the Obama administration's housing recovery program by igniting an exodus of employees from Fannie Mae and Freddie Mac, employees at the companies said....MORE
Is that the best ya got?
Yeah, they'll all go to Lehman. Sheesh.
While we're at it how about Fannie Mae's Daniel Mudd and Freddie Mac's Richard Syron. Out but not down.

*Raines disgorged $24.7 mil of the $91 mil. to settle his earnings manipulation fraud.