Friday, March 20, 2009

Fannie and Freddie Crisis if AIG Bonuses Are Taken Back

This would be hilarious if it wasn't so sad...of course, let the thug in chief go on Letterman and maybe he can compare it to Alzheimer's patients or people with brain damage....that should make it funny, right Barry?

Here is the story:
"By including Fannie Mae and Freddie Mac in the measure, legislators fueled feelings of fear and betrayal at those two companies, where some employees polished their résumés and began to call headhunters who had tried to recruit them in recent months.

Where are these people going to go? Haven't they been watching as Obama has put the big ol mark for death on the financial sector's backs? But wait, here is some more:
The legislation could affect hundreds of people at the companies, which are among the largest employers in the Washington area. At Fannie Mae and Freddie Mac, where salaries often range from $100,000 and $150,000, retention payments for many people are in the low-to-mid five figures. Many employees lost small fortunes -- in some cases life savings -- when the government seized the firms and wiped out almost all their shares.

What government was that? Oh yeah, our own. Ain't nationalization great for everybody? How is that tranfser of wealth going?
Employees put aside work for a time yesterday to attend meetings focused on the potential impact of the legislation, according to several employees at both companies. Workers expressed frustration that they may be penalized for decisions made by derivatives traders at AIG and top executives at banks under some of the legislation being contemplated. ... 'You can't keep people motivated if you're going to constantly stress them out,'" said one employee at Fannie Mae and Freddie Mac.

Really? You disincentivize work and people decide to go elsewhere? Gosh, that doesn't seem very hope/changey. I thought Massa Obama was going to get us all cars and free gas and stuff. I thought Nancy Pelosi was all about giving to the little guy. See, that is who is getting nailed at AIG and even in this story about Fannie and Freddie. The execs, like Jamie Gorelick and Franklin Raines, they absconded with hundreds of millions in bonuses and ill gotten booty. They were bought out by the government, etc. Now, we are going to punish the working schleps.

However, you can't really feel for the folks at Fan or Fred. Where were they when the flap was only on AIG? Where were they? It goes back to that old thing...first they came for the Jews, and I did nothing. Then they came for the gays...and I did nothing...then they came for the catholics, the infirm, the retarded, and I did nothing....when they came for me, there was no one else to speak out...Gee, what type of administration was that said about again? Begins with an F.....hmmm....it is equally appropo now.

Wake up America! Your government is trying to pwn you in everyway possible...rise up, stand tall against fascism and socialism in our midst. See the destruction that a house for every hood from the 70s and 90s has brought us....Arise, stand and be counted!