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Tuesday, January 19, 2010

Barney Frank: All Financial Looters Deserve Millions Of Dollars In Bonuses.

http://cnsnews.com/news/article/59848
Barney Frank Says Multi-Million Dollar Bonuses for Government-Owned Freddie, Fannie ‘Too High’--But Nothing Can Be Done About It

Please explain this to me again. I am having trouble understanding this.

Barney Frank, claims that congress had to bail out Fannie Mae and Freddie Mac or the economy would crumble, the sky would fall and the earth would stop rotating. The government seized control of both companies because of their financial difficulties. Barney Frank, claims that congress is unable to prevent the C.E.O.s of Fannie Mae and Freddie Mac from taking millions of dollars in salary and bonuses for reckless behavior which would have caused bankruptcy if the congress hadn't bailed them out.

I guess it is too bad that our government doesn't have an organization that can investigate crimes. I guess it is too bad that the people who helped cause the current economic crisis got bonuses instead of jail time. I guess it is too bad we don't have a pay czar appointed by Barack Hussein Obama to prevent C.E.O.s from getting outrageous bonuses for looting companies designed to help the average American homeowner.

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