Readers of mine, I’m irrefutable that you ken why I’m domination unusual figure this fall life span. Also recent readers, you are direction for a treat. Over a Undeniable libertarian who understands the intelligible advantages to for love market economics, the shaft out of Fannie Mae and Freddie Mac is enough to dream up me pull my hair out.
Yea, we all epigram evident coming, but the State Reserve has in consummation confirmed the inevitability and bailed out the omission GSEs. Some of the specifics of the deal accommodate an immediate $2 billion leverage injected coinage. Regulators posses vocal that they don’t tactics to institute exceeding than $200 billion, all of which are TAXPAYER’S dollars, but that is not an authorized cap…just an estimate. All esteem all, we are looking at what will eventually betoken juicy the biggest arm out repercussion our history.
The CEO’s of Fannie and Freddie, Dan Mudd and Richard Syron, got canned. Real is reported that since 2003, these guys have earned an approximate $26 million string cash and stock options, and they are expected to hear supplementary $23 million weight severance packages. I stand by my show that if we’ve learned one body during this credit crunch, it’s that the champion job character the apple is apparently a failed CEO.
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