Relevant:
- Freddie Mac posts $354M "Don't Worry, It's Just Derivatives" loss; Cuts Dividend; Won't Draw on Treasury
- Freddie Mac Reports $2.5 Billion Loss, Asks For A Mere $100 Million
- Gingrich Said to Be Paid At Least $1.6 Million By Freddie Mac
- Freddie Mac Reports Better Than Expected First Quarter Results
- Freddie Mac Reports Quarterly Loss, Seeks $500 Million in Government Aid
2008-07-19 — blownmortgage.com
Dick Syron, Freddie Mac chairman and CEO took home nearly $20 million last year and can take home another $20 million this year reports the Associated Press. This for the man that has guided Freddie Mac’s stock to it’s lowest point since 1991 and presided over a $3 billion net loss for the company in 2007.
Hey, let's be realistic. The man is being paid handsomely for being a political pincushion, not running a legitimate company.
But still, this is yet another example of privatized gains and socialized losses.
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Comments:
CFR2008 at 23:32 2008-07-20 said:
WHAT IS WRONG WITH PEOPLE AND WHY DOES NOT SOMEONE START ADDRESSING ACCOUNTABILITY, WHETHER IN THE BOARDROOM OR IN THE WHITE HOUSE. HOW LONG CAN THIS CONTINUE. THESE ARE THE KIND OF GUYS THAT TAKE THIS MONEY, INVEST OFFSHORE AND MOVE TO ESCAPE PROSECUTION. HOW HIDEOUS IS 20 MILLION. WHAT CAN HE DO THAT IS WORTH THAT MUCH. AND WHEN MAKING THAT MUCH, SHOULDNT YOU BE REALLY RESPONSIBLE FOR THE RUNNING OF YOUR COMPANY AND ITS PROFITS? Permalinkadd a comment | go to forum thread
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