Final Tally - Outgoing Freddie CEO Gets $4 Million Bonus To Receive $21 Billion In Bailouts After Massive Q3 Loss

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Thu, 11/03/2011 - 13:11 | 1842160 scatterbrains
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shush and eat your peas bitches !

Thu, 11/03/2011 - 13:27 | 1842194 Don Birnam
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Haldeman. Why, that name has a certain bell-ringing quality. Could Inside-the-Beltway appointee Mr. Ed Haldeman be related to this particular, former Inside-the-Beltway Harry Robbins Haldeman -- a/k/a "H R" ?



Thu, 11/03/2011 - 13:27 | 1842262 redpill
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Thu, 11/03/2011 - 13:31 | 1842281 NOTW777
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LOL likely some of this bonus $ will find its way to OWS

Thu, 11/03/2011 - 15:27 | 1842766 JW n FL
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Transitory Bonus Monies only go to the Anti-Global Warming Koch Brothers Tea Baggers.

The new, new, new.. Red v. Blue.. Divide and Conquer!

You poor, wanna be middle class.. soon to be hobo's.. may carry on now.

Thu, 11/03/2011 - 15:54 | 1842871 eisley79
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you cant be anti something that doesnt exist...

Thu, 11/03/2011 - 13:32 | 1842288 Pitchman
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In Crony Capitalism...

You always fail upwards...


... You see, as with the $1.2 Billion SunPower scam below, in the NWO Game of Debt Slavery Economics the House Always Wins And You Are The Mark.

See: Obama's Problem With Solyndra: It's A Warm Up For SunPower


When it comes to financial terrorism, waged against the people, the President has abdicated his Constitutional Oath and that is an act of Treason.

See: HOUSING: To Solve The Problem You Have To Force Very Large Banks To Recognize Loses


THE FED’S DEBT SLAVERY ECONOMIC MODEL is the genesis of funding for the elite money power.  Such power concentrated in the hands of so few is the most pernicious corrupting force, for which all others follow.



- Inflection Point

Thu, 11/03/2011 - 13:32 | 1842293 Melin
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Quiet!  Our OWSers are still sleeping here on the Leftist Coast.

Thu, 11/03/2011 - 13:30 | 1842280 iDealMeat
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related:  -  from CNBC

"Mortgage finance giant Freddie Mac said on Wednesday it will seek an additional $6 billion from U.S. taxpayers following its worst quarterly loss this year.

The government-owned company reported a comprehensive loss in the third quarter of $4.4 billion, it said in a filing with the U.S. Securities and Exchange Commission. That compared with a $1.1 billion loss for the second quarter of 2011.

Despite an income of $4.6 billion, the company registered a net worth deficit of $6.0 billion, which was partly attributed to the $1.6 billion quarterly dividend payment owed to the Treasury.

Freddie Mac has drawn $72.2 billion from the government since it was taken over at the height of the financial crisis in September 2008. The government seized both Freddie Mac and larger rival company Fannie Mae as mortgage losses at the two firms piled up and threatened them with insolvency."

Thu, 11/03/2011 - 13:31 | 1842283 Xinu
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Ed Haldeman is not related to H.R. Haldeman...

Thu, 11/03/2011 - 13:25 | 1842248 Chief KnocAHoma
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But the bankers are eating steak, why do I have to eat peas?


Thu, 11/03/2011 - 14:13 | 1842478 Ruffcut
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Millions? Shit, for 50 bucks I'll run and shit all over freakybitchfromfraudfuck. 

Actually.I'd do it for it free.

Thu, 11/03/2011 - 14:21 | 1842520 LongSoupLine
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Hmmm, sounds like a job opening for Corzine.  Good timing.

Thu, 11/03/2011 - 13:11 | 1842164 Deadpool
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Atlas shrugged.

Thu, 11/03/2011 - 13:28 | 1842267 Gully Foyle
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Telemachus Sneezed "What is John Guilt?"

Thu, 11/03/2011 - 13:32 | 1842291 tarsubil
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Don't you know it. Oh, hey, another wing of Reapers is coming. Go get 'em, Gully! I'm right behind you! *turns and runs*

Thu, 11/03/2011 - 14:31 | 1842551 reTARD
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Exactly, Atlas Shrugged. And when you try to reason with someone who ends up having no logical answers in a debate, but always ends up saying that the human condition is unexplainable like love and that some things are not finite, why bother?

Atlas is based in large part on the notion of force. The state (like institutions as the Church, countries, corporations, public school monopoly) is just an imaginary entity that is even created by the laws of state itself. And the state has been determined as the only entity allowed to use force to enforce supposedly people's liberties.

Someone accused of a crime and stands before a judge has a pretty finite outcome of either guilty or not guilty and is held at gunpoint. Similarly, a citizen is also in effect held at gunpoint to pay taxes for many things which he may not want to pay for but the majority or through cronyism has forced every citizen to do so. And that outcome is finite as well; pay your taxes or be forced to jail.

Bottom line is that if a state is to force its citizens to do any single thing, it really must be something absolute or de"finite". Or at least as absolute and finite as standing directly in front of a gun.

Thu, 11/03/2011 - 14:50 | 1842652 DosZap
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If I were HIM I would SUE!!!!!!!!!!!!!!(discrimination the black Dude before him,walked with over 11x's that

The first dude kicked out at FM/FM, got a 50 Million Bous(and Barack) did not SEIZE it like he did private corporations CEO bonus bucks.

Hypocrite bstd.

Thu, 11/03/2011 - 13:12 | 1842167 azzhatter
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Are they hiring? I can do this job

Thu, 11/03/2011 - 13:45 | 1842351 Roland99
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My left nut could do that job!

Thu, 11/03/2011 - 13:12 | 1842169 LawsofPhysics
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Where the fuck are the guillotines?  Time to get physical on so many levels.

Thu, 11/03/2011 - 13:21 | 1842218 AbeFroman
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People need to get medieval on this dude. Where's Marsellus Wallace?

Thu, 11/03/2011 - 13:51 | 1842377 MachoMan
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In the basement with zed?

Thu, 11/03/2011 - 13:58 | 1842403 Bastiat
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That didn't work out so well for Zed.

Thu, 11/03/2011 - 15:25 | 1842761 MachoMan
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Nor Mr. Wallace...

Thu, 11/03/2011 - 13:23 | 1842230 Dealer
Dealer's picture

This CEO bastard is a criminal, he needs to be put down.

Thu, 11/03/2011 - 13:27 | 1842259 Abitdodgie
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Nobody cares, just watch the reaction from the people NOTHING , there will be a lot of chest beating by blogers that will be it, MSN , NBC , FOX et al will all say what a great job he did, and they just need this next bailout to really get going, the people in charge will carry on living like kings , while we all get a big bite of there "shit sandwich" as we all downsize so we can give them more money in the form of taxes. If you stop paying taxes we may get some change ,but untill that, well hows that new tent working out for you.

Thu, 11/03/2011 - 13:29 | 1842271 karzai_luver
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no words for it.................


Thu, 11/03/2011 - 13:31 | 1842287 NOTW777
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franklin raines

Thu, 11/03/2011 - 13:34 | 1842303 tarsubil
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Thanks buddy. That's a good reminder that both sides partake in the raping of the American public. Neither party is on the People's side.

Thu, 11/03/2011 - 14:39 | 1842602 karzai_luver
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I hear there is a bust of him in the lobby.

The Greatest Leader!!!!!

Real Trailblazer!


Thu, 11/03/2011 - 13:12 | 1842170 mfoste1
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CEOs must have some type of contest going on between themselves to see who can get the biggest departure pay.....jokes on the taxpayers

Thu, 11/03/2011 - 13:13 | 1842178 squexx
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They need to change from occupying tactics to assassinating members of a certain "shitty little tribe" behind it all!

Thu, 11/03/2011 - 13:14 | 1842181 Madcow
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lets not be too quick to jump to conclusions.  just becuase you work for the US Government does not necessarily mean you are some kind of sex criminal.  surely, there are politicians and regulators who are not sociopaths. we should be carful to identify them so that we don't throw out the baby with the bathwater -

Thu, 11/03/2011 - 13:17 | 1842195 jcaz
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True- that would be an insult to sex criminals and sociopaths everywhere......

Thu, 11/03/2011 - 13:30 | 1842277 Gully Foyle
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Mrs.Clinton, is that you?

Thu, 11/03/2011 - 13:14 | 1842182 alien-IQ
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In order to keep from going totally fuckin postal, I must stop reading any more news today.

Looks like an early Tequila day for me kids. Today seems to be fraught with more ulcer inducing news than I can take.


Thu, 11/03/2011 - 13:14 | 1842183 Seasmoke
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i am very very pissed

Thu, 11/03/2011 - 13:15 | 1842187 Breaker
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To be fair, Freddie is going to lose money no matter what happens and that will result in treasury draws. That was built into Freddie by Frank, Dodd, Raines, Gorelick et al long before this guy took charge. This is a problem with the liabilities Freddie took on over decades and the idea that taxpayers should pick up the bill to encourage home ownership.

Thu, 11/03/2011 - 13:24 | 1842236 TheSilverJournal
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Given your argument, the man should be paid the salary of a public servant. I'll argue that all federal public servants should be fired.

Thu, 11/03/2011 - 13:26 | 1842255 Tyler Durden
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Correct. However, managing a roll off portfolio is a function for a back office worker, and one person making $100k tops.

Thu, 11/03/2011 - 13:31 | 1842282 karzai_luver
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GS-12 at most.

All these types should be there and NO walk away cash, NONE!

I can send them 100 peeps who could handle this simple task.




Thu, 11/03/2011 - 13:36 | 1842307 tarsubil
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Oh, one can dream...

Thu, 11/03/2011 - 14:04 | 1842430 Chariots of the Feds
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Step 1

Thu, 11/03/2011 - 14:13 | 1842482 baby_BLYTHE
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the dollar will soon be worthless so It is all meaningless anyways.

Thu, 11/03/2011 - 14:25 | 1842531 LongSoupLine
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Can't be a GS-12 if it's supervisory/directing.  Give the slot a SCS and hold the rating system to losses incurred.

Thu, 11/03/2011 - 14:42 | 1842616 karzai_luver
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I DIDN"T SAY ANYTHING ABOUT supering , now did i.


This doesn't take much beyond an 8th grade(well 20 years ago an 8th grade) ed to handle.



Thu, 11/03/2011 - 13:36 | 1842310 scatterbrains
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but how much is agreeing to keep your mouth shut about what you see while preforming said roll off worth? 3.9mil might be dirt cheap

Thu, 11/03/2011 - 14:11 | 1842469 rwe2late
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“Built-in” need to feed at the public trough, that’s it?

Why only make such a half-hearted defense of CEO Haldeman?

Obviously, others are missing the main point. Without his guidance, Freddie could have lost $70 billion. Instead they only lost $20 billion. The bonus is clearly for 'saving' all that money, all $50 billion.

Don’t say you’ve never heard this kind of argument before.

It’s unprovable, but then again, it can’t be disproven either.

There’s too much emphasis on fixing things, and getting the right answers. That’s old school. That just makes people feel bad when they do wrong. We should focus on the good inner heart everyone has, whether they say they tried. Most stuff is just too hard to fix, and should just be left as is.

Haldeman definitely deserves a suitable reward for ‘not rocking the boat‘.

Thu, 11/03/2011 - 13:15 | 1842189 gofigure
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Good work, if you can find it.

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