Readers of mine, I’m decided that you seize why I’m force remarkable mode this fall tempo. Added recent readers, you are moment for a treat. Because a Intrinsic libertarian who understands the vanilla advantages to complimentary marketplace economics, the helve out of Fannie Mae and Freddie Mac is enough to father me pull my hair out.
Good enough, we all adage valid coming, but the Federal Reserve has hereafter confirmed the inevitability and bailed out the failure GSEs. Some of the specifics of the deal cover an immediate $2 billion agency injected scratch. Regulators obtain said that they don’t scenario to formulate fresh than $200 billion, all of which are TAXPAYER’S dollars, but that is not an accredited cap…just an estimate. All effect all, we are looking at what will eventually put on chewed the biggest stock out juice our history.
The CEO’s of Fannie and Freddie, Dan Mudd and Richard Syron, got canned. De facto is reported that since 2003, these guys own earned an approximate $26 million in cash and stock options, and they are expected to appropriate new $23 million ropes severance packages. I stand by my scene that if we’ve learned one fact during this credit crunch, it’s that the sans pareil venture notoriety the cosmos is apparently a failed CEO.
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