NEW YORK (CNNMoney.com) -- Top executives at mortgage finance giants Fannie Mae and Freddie Mac, both of which have been under government control since last year, received millions of dollars in pay this year, according to documents filed by the company Thursday.
Michael Williams, who was named CEO of Fannie Mae (FNM, Fortune 500) on April 21, received total compensation of $6 million.
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David Johnson, the chief financial officer and No. 2 at the company, received $3.5 million, and five other top executives saw their total pay package top $2 million.
Williams and three other top executives are eligible to receive an additional payment pursuant to a 2008 retention program, according to the filing.
THESE ARE BONUSES PAID TO GOVERNMENT EMPLOYEES! THE DEMS ARE REALLY SAYING ONE THING AND DOING ANOTHER.
WILL YOU CONTINUE TO SUPPORT SUCH CORRUPTION? ONLY YOU CAN VOTE TO PROTECT YOUR WALLET. remember the current health care bill is full of bribes and pork and that is your money!!
At Freddie (FRE, Fortune 500), its slightly smaller rival, CEO Charles Haldeman also received total compensation of $6 million and is due to receive the same pay level in 2010.
Bruce Witherell, Freddie's chief operating officer and No. 2 at the company, received $4.5 million for each year, while Ross Kari, the chief financial officer, received $3.5 million for each year.
Fannie and Freddie are the primary source of mortgage funding in the country. They buy mortgages made by banks and other lenders, bundle them into securities and then guarantee payments to the holders of those mortgage securities. Together they own or back about $5 trillion in mortgages.
He said the bills in Congress would cost California $4 billion to $5 billion. California, he said, suffers from federal reimbursement and eligibility rules that place residents in welfare and health programs administered by the state but without enough money from the federal government to cover them.
The Obama administration seeks to empower a very powerful government agency you have probably never heard of with new and expanded powers that will have a direct consequence on every American if they are successful in their efforts to implement national health care reforms.
The Obama White House is also drunk with power and is seeking to expand the powers of government agencies to oversee and act out to affect Americans in ways that this country has never seen before.
What is the Office of Personnel and Management and why should you care?
The Office of Personnel Management, (OPM), is suppose to be an independent government agency that is charged with managing the civil service system of the federal government. If you are a federal employee then civil service laws, rules and regulations that are managed by OPM govern you. One of the main charges of OPM is to administer and oversee federal health care provided to all federal employees.
The Director of OPM is appointed directly by the president and confirmed by the Democratically controlled Senate. The current director of OPM is a fellow by the name of John Berry who, before becoming OPM director this past year, was director of the Smithsonian’s National Zoo. -- You cannot make this stuff up.
Under the Democrats' national health care scheme not only would OPM be charged with overseeing and administering federal employees health care but they will have the added charge of administering civilian federal health care as well. What does that mean? Basically, that Americans will be treated as “civil servants.” Are you starting to see the danger?
The more government seeks to control our lives the more Orwellian it gets. This “big brother” mentality that "government knows best" and that it is their mission to provide cradle to grave “care” of its citizens will doom America as we know it. Under such a system the individual becomes meaningless and the state becomes the entity upon which we are all forced to rely.
Can you believe we trust theses officials to act in our best interest? They have got to go!!! Vote them out one by one. You freedom and your wallet are what you will be saving by voting them out. Or you can leave them in office and watch your freedom disappear and your wallet will be empty.
THE COST OF BAKING COOKIES FOR YOU KIDS JUST WENT THROUGH THE ROOF!!
* Climate Change Video:Global agreement Australia 7 News
* US moves to cut emissions Play Video Climate Change Video:US moves to cut emissions Reuters
* EPA: Greenhouse gases endanger human health Play Video Climate Change Video:EPA: Greenhouse gases endanger human health AP
By Timothy Gardner Timothy Gardner – 2 hrs 37 mins ago
WASHINGTON (Reuters) – The U.S. Environmental Protection Agency on Monday cleared the way for regulation of greenhouse gases without new laws passed by Congress, reflecting President Barack Obama's commitment to act on climate change as a major summit opened in Copenhagen.
The EPA ruling that greenhouse gases endanger human health, widely expected after it issued a preliminary finding earlier this year, will allow the agency to regulate planet-warming gases even without legislation in Congress.
The agency could begin to make rules as soon as next year to regulate emissions from vehicle tailpipes, power utilities and heavy industry under existing laws.
Obama and his Democratic allies in Congress will still pursue legislation in Congress, which has been slow to act. But the EPA move gave a timely push to the president's aims of securing short-term limits to harmful emissions.
FISCAL IRRESPONSIBILITY has taken root in Washington!
Of course Health Care will just increase the deficit.
Copied from a Yahoo news article...
Despite its huge price tag, the Congressional Budget Office has estimated the 2,074-page bill would reduce federal deficits by $130 billion over the next decade. (this bill is 8 inches thick, do you believe they really know
what is in it?)
If the savings are correct.. that is $13 billion a year, still leaving us with a 1.37 Trillion Dollar deficit!