What the fudge?! Two of the biggest mortgage financing firms are on the brink of disappearance, so much that the government is taking them over, and their CEOs still get to leave with millions of dollars?! I know our country is based on capitalism, but come on!! It’s bad enough that we as tax payers will be paying for the salvage of these two financial nightmares, but letting the CEO’s go with millions?!!
I say enough is enough! Let them all rot! 😡 Government needs to freeze those CEOs’ fat pockets when it’s their fault as well!! What happened to good ol’ fashioned “go down with the ship” mentality?! It’s gone, I tell ya. I hope the two CEOs have miserable lives! Erg…
Normally I do not care what CEO’s make or what they get as part of some severance package, but this is a special case. These were government sponsored enterprises where the taxpayers assumed the risks while these guys were doing all sorts of risky adventures far beyond their original reason for existence. In other words, it was not capitalism where the investors assumed the risks (thanks FDR).
I do not know enough about the 2ndary mortgage market to have an idea of what all happened, but it seems the government takeover was the lesser of all the evils….