Freddie Mac Pictures + News

Obama To Bush: Don’t Give Sweetheart Deals To Fannie Mae/Freddie Mac Execs

Published
by
Breaking News
on September 9, 2008
in Barack Obama, Economy, Fannie Mae, Freddie Mac, George W. Bush and Real Estate
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Fannie Mae
Fannie Mae

“‘Under no circumstances should the executives of these institutions earn a windfall at a time when the U.S. Treasury has taken unprecedented steps to rescue these companies with taxpayer resources,’ Obama said in a letter to Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart. ‘I urge you immediately to clarify that the agreement with Fannie Mae and Freddie Mac voids any such inappropriate windfall payments to outgoing CEOs and senior management.’ ” [Link]

Shareholders Blasted By Takeover Of Freddie Mac, Fannie Mae

Published
by
Breaking News
on September 6, 2008
in Business, Economy, Fannie Mae, Freddie Mac and Real Estate
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stockbrokers

“The move to take control of the two companies, which may be announced Sunday, could amount to the largest financial bailout in the nation’s history, and is a bid to ward off further damage to the U.S. housing market which is in its deepest downturn since the Great Depression. ‘I think all shareholders will be disadvantaged,’ Rep. Barney Frank, chairman of the U.S. House of Representatives Financial Services Committee, told Reuters.” [Link]