Crony corrupt capitalism at work. DISGUSTING!

Seems that government suffers from the same fears as corporations do, which is the over-valuation of executives.

If $170 billion in losses is what the "experts" produce, me thinks we cannot afford much more of their "genius".

It is looking more and more like our entire system will need to collapse before we will return to any form of sanity in the valuation of work, and the definitions of words like "experts".

Oh Please - excuses and crap!

Why is it that only the poor and the middle class have to sacrifice and do without? These bonuses are being taken right out of the mouths and pockets of real, struggling, hurting, Americans - Hundreds of unemployed Americans with qualifying skills would do these jobs as well or better for generous salaries and sacrifice the bonus.

All Companies bailed out by the US taxpayers needs to have a moratorium on bonuses for a minimum of 5 years after they have paid back the US taxpayers.

For 99% of us, if you do your job, you get to KEEP your job (well, unless your company decides to offshore, downsize, boost dividends or go belly up).

NOBODY "needs" a multi-million bonus to do the job they were hired for.

And the OWS crowd wants to bring down corporations so that the government can run things?

Save us from these experts. They're the ones who contributed to the problems we're now paying for.

hey now - be fair. It is hard work driving Fannie/Freddie into $180B in losses. You or I could not have done it.

And they need to pay the bonuses because management might jump ship and go run another business into the ground. After all - every company is looking for senior management to destroy the company.

You guys just don't understand... It is the job of government (and the middle class) to bail out businesses. Just look at who pays to build sports arenas (footballl stadiums, baseball parks, hockey rinks, etc). It is not fair to only give welfare to some millionaires. Every millionaire should get it equally - or none should get it.

CBS 60 minutes - Jack Abramoff - The most notorious & crooked Republican lobbyist, check the video out, and this will open your eyes, as to why we need to get all lobbyist and special interest groups out Washington, h...out politics!

TALK ABOUT CORRUPTION!

If they didn't get a bonus, where else would they go? I'm tired of hearing how many millions it is necessary to pay these guys to retain good talent, these guys all come from the same management school of ME First. When they screwup they should have to pay back what they didn't earn.

Saying that the payment of failure "bonuses" is required to keep "top talent" in place at firms that are FAILING should be a FIREABLE OFFENSE, in either the private or public sector !!! When the money used to pay such "bonuses" is picked from the taxpayers' pockets, it should be PROSECUTED as a CRIMINAL OFFENSE !!!!

life.is.hard, no, not at all. OWS is telling the government, if we the people can see the corruption that is going down on Wall Street, and the banks, you sure as in H can see it also, and if you don't do something about it, your next in line to be on the receiving end of the protests.

of course the feds are going to OK the game , they are playing with the crooks also.

This is insane. I just heard on the news a day or 2 ago that Fannie and Freddy wanted another bailout.

This time the answer is "NO".

I know that I am just a dumb country boy, but WHAT???

What ever happened to pay for performance?? It is still very real at the regualar Joe level whom these people make the rules for.

I like alot of other people have be waiting 3yrs for my bank account to pay some decent interest, I think it is way past time for the FED to stop giving the banks and mortgage companies free money to play with at my expense.

Outrageous. Actually, beyond outrageous. This idiot has the audacity to claim ridiculous bonuses are needed to protect the management "geniuses" at Freddy and Fannie. Audacacious little twerp, isn't he? Heck, I only have a bachelor's degree, and I honestly believe I could do a better job than these so-called "experts." They have their inflated salaries and bonuses ... let them live on what they have until we get this economy straightened out and people are back to work. Oh, wait ... they can't AFFORD to live on what they get? Hey, WELCOME TO REALITY!

Remember when bonuses were rewards for a job well done?

RealAmericansFirst

For 99% of us, if you do your job, you get to KEEP your job (well, unless your company decides to offshore, downsize, boost dividends or go belly up).

OR, unless you work the Feds, then you get a bonus, and Obama doesn't say a word about it. As long as it's Government, it's OK.

Um, most of you did read and understand that these executives where brought on after the bailout to try and limit losses. So, they didn't work at the company when these companies lost that $170 Billion. They didn't man the helm when these loans were given out. So, don't blame them for that.

However, they did work at those companies when they lost the $7 and $6 billion they need to offset profits lost to low interest rates. What, they didn't see that interest rates would continue to be suppressed and try and find a strategy to offset those losses? I'm a firm believer in performance comprising a majority of Bonus criteria. I see $13 Billion reasons not to give these guys a bonus.

These people are among the highest paid in govt at nearly $1 million dollars annually. Presidents get $400K a year, congress $200K.

But F/F execs demand not only the highest salary in govt but also bonuses for just sticking around. I say fire them and find some new people who wouldn't mind working for $1million a year with benefits.

Something is very very wrong with out govt and it needs to be occupied.

WHERE IS TONY KIRITSIST WHEN YOU NEED HIM ?

Don't worry about losing your "Taleted Executives!" They won't be going over to Goldman (Nut) Sachs because they're about to have their a$$es handed to them with about $15.5B in lawsuits for their bad mortgages!

Sounds like the tail is wagging the dog

so they call people who access assistance programs entitled, and those that use medicare/medicaid entitled and they call those who use their social security as entitled. Well I have never seen a bunch of entitled crooks like these.

when the national debt is to the point that budget cuts will put vulnerable people in danger, when forclosures are sending people into the streets, and unemployment is ruining families, it is so important that these theives make sure they get theirs. It just goes to show you that not only does the 1% not get it, the government doesn't get it either. No one is looking out for this country and it's citizens anymore.

Why don't they take the $ for these "bonuses" and help a family facing homelessness. Oh ya we don't want to be a socialist country where we make sure people have the necessities for life. It is time for the people to take back what is theirs, revolution!!!

Does anyone really doubt that the tax cuts need to be returned to the pre 2000 era? It's people like these that need to pay more taxes and close the loopholes that are driving this country into bankruptcy. They give themselves millions in bonuses and don't pay their fair share of taxes to the government that provides them the great job they abuse.

How interesting.

When the Obama Administration gave 'bailout' money to the banks on Wall Street, they included limits on compensation for the officers of those banks.

Why were the biggest bailouts of all - Fannie Mae & Freddie Mac, exempted from those same limits? Could it be that they are big campaign contributors to the Democrats?

They really did their jobs, they need 7.8 billion more taxpayer money! Reward for failure thats the govt way.

Sell it all and get it over with. Get rid of these mill-stones.

jarae,

Although I completely agree with you, these bonuses should not be paid out, can you please explain how these bonuses are taking food out of the poor's mouth? Federal tax dollars, not payroll taxes or sales taxes are what is used for bail out funds. The poor typically don't pay federal taxes

These are caretakers, and nobody is worth that. The only people worth compensation like that are people who build companies from scratch, who create wealth.

The Fortune 500 is an old boy's network of inflated egos and inflated salaries, where crazy amounts are paid merely because one's job includes the title "manager" or "director" or "vice president." Indoctrinees to the system go along with it for obvious reasons, and incumbents perpetrate it for obvious reasons--greed, not actual "talent."

rontron,

You can thank the fed for the low interest rates that the banks pay. They are the ones that set the rates.

“The government regulator of Fannie Mae and Freddie Mac said Thursday that million-dollar bonuses paid to executives at the companies were necessary to keep the mortgage giants running”

What????.......wait a minute, I need to clean my glasses, recover and have a drink of cold water!!! What???......that’s it!!........ 2012 can’t come soon enough!!

This is the Obama way, just throw more taxpayers dollars down the drain...in the real world, if the company dosen't have a profit, there can't be a bonus. This is a perfect example of why we had better change directions...soon!

Why didn't they hire one of the OWS Patriots to balance the books, OWS has a lot of University Grads that would love that job for just $100,000 a year and may have done a far better job. It still boggles my mind that a Wall Streeter gets FIRED and walks a way with several million in his bank account for doing a bad job. I'm an Iron Worker, if I do a bad job, not only do I loose my job, it also gets around at the Union Hall and the BA will make me sit on the bench for a couple of weeks to six months til I get my head together. I have seen it done to other Union Members and I've had it done to me at the Pipefitters Union, GET THIS, Because I do not believe in a GOD, I have been pulled into the BA's Office and asked what I believe, and I told told him, that I don't believe in organize religion or in the bible god, but I believe in a LAW that governs the Universe, not a MIND. The Pipefitters are REAL RELIGIOUS PEOPLE, that is why I'm back to Iron Working.

When the executives were asked if they would still give out the outragous bonuses, they answered "Yes we can, Yes we can"! Thank you Obama, Dodd, and Frank for exempting Fannie & Freddie from the Dodd-Frank financial reform act. These same three clowns plus Waters stopped Bush from reigning in Fannie & Freddie prior to hosing mortgage collapse and now we are all paying for it. Don't you just love the change we can believe in?

janet

Obviously you've been avoiding the IRS. Look at the tax tables in the back of your instruction book. Even if you only made $1000 dallars last year, Uncle Sam says you owe him 10% of it.

""We will need expert management of those guarantees for years to come...."

Well, well, well. I guess these "experts" Obama hired are not the "experts" we really need.

Oh, and BTW, that comment made on "Wall Street" does not have to be accepted by we who are paying the bills. No, Dorothy and Toto, we are definitely not in Kansas, nor is greed good. Not in my America.

Perhaps our Congress people need to be replaced to show them how easy that is to say to their masters?

What is doing Obama to stop the corruption , those are things that matter when we are going to reelect a President.

The wall st., clowns should be put in jail, not getting bonuses, take that bonus money and pay back all that money you lost. These retards swindled money from hard working peoples life savings and retirement funds. American citizens lost their jobs & homes and some are living in the street because of them. than they are bailout with our money ( Tax Payers money ) They should pay back all the hardships they made before they take any bonus money. Will they ???????

This article is a joke right?

I do hope THIS is investigated to the utmost. This seems to me to be little more then a slap in the face to ALL Americans for what the OWS protesters are doing. In fact I would hedge fund bet securities cash that it is just that. In effect saying the the 99 percent of the American people that "YOU cant do anything about it".

Then in turn saying "WE were SAVING YOU money, it was necessary to make sure YOU the tax payers didn't get charged more". Hmmmm....

Cheers

Sadly it isn't Nanette, I think I'm about to join OWS... how is No to 12 million bonuses for Fannie and Freddie for a concise idea.. that all these people complaining about the OWS movement are looking for...

Lee-2124113

Those tables are AFTER you subtract your deductions and exemptions from your AGI, not onyour gross income. 47% pay NO federal income tax on their income.

http://www.ntu.org/tax-basics/who-pays-income-taxes.html

unreal, lost over 600 billion in bad loans, guilty of financial fraud, lover of Barney Frank, no previous experience in statuary accounting, and they get 10's of millions in bonus, the system is crazy !

Roy,

Once again, you spout crap.

"Could it be that they are big campaign contributors to the Democrats?"

Even not withstanding the more recent supreme court ruling on "deductibility" of PAC contributions, both Fannie Mae and Freddie Mac are precluded by charter in contributing to any governmental campaign.

JayCFO-3768452 "Roy, Once again, you spout crap....both Fannie Mae and Freddie Mac are precluded by charter in contributing to any governmental campaign."

Oh REALLY????????????? Then how do you explain this - with citations?

"Political contributions from Fannie Mae and Freddie Mac overwhelmingly supported Democratic officials - in particular members of Democratic leadership:

Since 1989, Senator Chris Dodd (D-CT) has received $165,400 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08)

Since 1989, Senate Majority Leader Harry Reid (D-NV) has received $77,000 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08)

Since 1989, House Speaker Nancy Pelosi has received $56,250 from Fannie Mae and Freddie Mac. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08)"

Sama, sama blame, blame.

The federal takeover of Fannie Mae and Freddie Mac refers to the placing into conservatorship of government sponsored enterprises Fannie Mae and Freddie Mac by the U.S. Treasury in September 2008. It was one financial event among many in the ongoing subprime mortgage crisis.

On September 6, 2008, the director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.^[1][2][3]

At the same press conference, United States Treasury Secretary Henry Paulson, stated that placing the two GSEs into conservatorship was a decision he fully supported, and that he advised "that conservatorship was the only form in which I would commit taxpayer money to the GSEs." He further said that "I attribute the need for today's action primarily to the inherent conflict and flawed business model embedded in the GSE structure, and to the ongoing housing correction."^[1]

The same day, Federal Reserve Bank chairman Ben Bernanke stated in support: "I strongly endorse both the decision by FHFA Director Lockhart to place Fannie Mae and Freddie Mac into conservatorship and the actions taken by Treasury Secretary Paulson to ensure the financial soundness of those two companies."^[4] The following day, Herbert M. Allison was appointed chief executive of Fannie Mae. He came from TIAA-CREF.^[]

^{And so we have it, the reason we are now their overlords, bailing them out, not in Obama's time but in Bush's time, so let's knock off the blame game and at least credit the senate for an immediate call to investigate these ridiculous bonuses. Nearly as I can tell, this is still an independent agency but, with the baliout they got as a part of the Bush TARP, we certainly own enough of them bring pressure and force them to rescind these bonuses. It's the height of insult to the American unemployed!!!!!}

canman-2697435

Lee-2124113

Those tables are AFTER you subtract your deductions and exemptions from your AGI, not onyour gross income. 47% pay NO federal income tax on their income.

http://www.ntu.org/tax-basics/who-pays-income-taxes.html

--------------------

Canman, would you like to be poor enough to be one of them?

This "government regulator" needs to go. And then thoroughly investigated - even if he is not guilty of being illegally influenced (hah, yeah right), he is still an idiot and needs to go.

Ah, but I suppose that regulator's cronies would insist that their regulator is "top talent" too, and threaten that things might get "messed up" more if he's let go AND the big shot parasites don't get their bonuses... Bull$hit.

Strip them all naked and toss them to the street. Confiscate ALL their belongings and never allow them to accumulate any more. Not one red cent.

We are FED UP with these people.

I do wonder if their "talent" involves knee pads ?

This is the society we've gotten by compensating for ideas instead of physical goods. It applies to arts as well... painters, musicians, celebrities, actors, actresses, athletes, etc. Corporate positions that exemplify this include: executives, directors, advertising, etc. It's all the same thing; society has to be willing to reduce these positions off their pedestals and then knock greed back down to reality. Until then, this is but the tip of the proverbial iceberg.

No that's Penn State!

Don't forget the ELBOW pads, they might have to put a little muscle into.......

I've got to agree with you. There isn't that great a disparity between the management ability of those on top and the next tier; certainly not great enough to warrant a hundred to a thousand times the pay of the average employee in the organization. The reward should come from the exercise of good judgement by leadership so that the enterprise is successful and that hasn't been demonstrated. What this is - is the system. This is pure self-interest and greed. What these people are good at is clawing their way up and manifesting for themselves. Thus the disconnect. Thus the Occupy Wallstreet movement. If it's not an out-and-out old boy network in operation, it's conditioning and inward facing that allows the people who could more directly challenge this waste to condone it instead.

Madelin,

I don't really know about their "talent", but if there's anything to it, they're well worth the money. Suppose they're a mere 1/2% better than a lowly $500k/year clown. Well, their portfolios are worth many hundreds of billions of dollars. 0.5% of $100 billion is $500 million dollars of value. Isn't that worth paying a few extra million for?

And for all the CEO haters out there, that's why they're paid the big bucks. For all the greed and envy types, except for those on the government payroll, it's really none of your business what they're paid. If the stockholders are happy, it's none of your business. If you're a stockholder, then go to the shareholder meetings and vote your shares. It's quite democratic.

don't just vent here - WRITE to those that can help adn those that have the decision making ability....

Acting Director
Edward DeMarco
Director@FHFA.gov
202.414.6923

Acting Senior Deputy Director and Chief Operating Officer (COO)
Stephen Cross
DeputyDirector@FHFA.gov
202.414.6923

Deputy Director for Enterprise Regulation
Chris Dickerson
DeputyDirector-Enterprises@FHFA.gov
202.414.6923

Deputy Director for Federal Home Loan Bank Regulation
Stephen Cross
DeputyDirector-FHLBanks@FHFA.gov
202.408.2500

General Counsel
Alfred Pollard
GeneralCounsel@FHFA.gov
202.414.6924

Ombudsman
Michael J. Powers
Ombudsman@FHFA.gov
202.445.2166

Inspector General
Steve A. Linick
OIGhotline@fhfa.gov
1.800.793.7724

Grover, is that you???

IS THIS TRUE??? WHAT??? TELL ME I'M NOT SEEING THIS???? A BONUS or TWO??? WHAT THE HELL... These people are unreal... They help cause the housing crisis and then they have the audacity give their so called TOP TALENT bonuses? Please somebody shoot me now!!!!

2003

Rep. Barney Frank (D., Mass.): "I worry, frankly, that there's a tension
here. The more people, in my judgment, exaggerate a threat of safety and
soundness, the more people conjure up the possibility of serious financial
losses to the Treasury, which I do not see. I think we see entities that are
fundamentally sound financially and withstand some of the disaster scenarios..."

Must be Bush's fault

I doubt that any us exc would want to go to china--they would shot someone that lost the billions these clowns did. This type of stuff is what revolutions are made of. It is why the czars were dragged out and shot. The only way anything over here will ever change is if we follow that example and form up some firing squads. We can start with all of the politicians and lobbyist and then work our way down the corporate ladder.

"Given the amount of money at risk here, small mistakes can be easily amplified to losses far greater than the compensation paid to enterprise executives."

Sounds like extortion to me!?

LIBS this is YOUR guy giving the money to them!!

Mark-bunchanumbers

This is the society we've gotten by compensating for ideas instead of physical goods. It applies to arts as well... painters, musicians, celebrities, actors, actresses, athletes, etc.

Without ideas, you would still be scratching out drawings in your cave. I'm guessing you don't have any. Also, those who make goods would have no goods to make without ideas. Again, you're back in your cave. You presume that there is no labor involved in any of these endeavors.

You probably use this "logic" to steal music and other intellectual property that would not exist if you were running the show, because you obviously lack anything that could be construed as creative or talent. You also lack the ability to think outside the box you're in.

Yeah? Try thinking outside this box -

These are not "idea people" (the Freddie & Fannie folks). They are parasites.

Hire some smart kids (not "connected" kids) fresh outta college. 3.9 GPA or better ONLY need apply.

Then kick those other unintelligent, greedy ba$tards to the street PRONTO. No severance, no bailout, nothing. Tell them to learn to "tighten the belt."

MRZ-1191248

"Given the amount of money at risk here, small mistakes can be easily amplified to losses far greater than the compensation paid to enterprise executives."

Sounds like extortion to me!?

It is attempted extortion - it's idle threats made by stupid people. All the more reason to make sure that they become impotent.

THEY made the threat. WE need to make sure now, that they are absolutely powerless to make it happen.

This means that they cannot be trusted with any money, or any thing. Toss them in prison like we do with other people that like to "make threats."

Whenever one of these S.O.B.s threaten to quit if they don't get their millions in "bonuses", tell them to GET STEPPING - out the door, NOW!!

Nope, no "taking it back", no "I'm sorrys"... GET STEPPING NOW!

That's how things work in the real world.

They need a taste of "the real world."

Economan -

...Well, their portfolios are worth many hundreds of billions of dollars. 0.5% of $100 billion is $500 million dollars of value. Isn't that worth paying a few extra million for?

NO.

Their big paper envelopes and fancy binders are not worth "a few extra millions."

Sheesh!

Most ALL of us "common people" realize that it is not acceptable to expect a "bonu$" for screwing up.

Yet the "great minds" that we have running nearly everything do not think the same way. They are the ones that feel "entitled." Entitled to lavish lifestyles and salaries. Entitled to security, now and into their old ages. Entitled to not just security, but more than they can even possibly consume... Even when they are proven to be incompetent.

This proves beyond a doubt that these people are NOT the "brightest talent."

Get them out of there.

No, no, no, you got this all wrong.

It's BILLIONS.

Anyone fearing corporate greed needs nothing more than to look at the incompetence, greed and corruption of our government to know that GE and Apple are not nearly as scary as Uncle Sam.

How about in the tens or possibly hundreds of billions. Where is the liberal outrage at this?

The outrage is already being evidenced regarding this and other signs of political corruption and corporate greed. That is what has been going on all over the country since September from Occupy Wall Street to Occupy Oakland, and now spreading to college campuses and other countries all over the world. It is THIS kind of greed that all the occupy participants are trying to call attention to.

then mama why aren't they in washington?

Especially you younger people who fell for "Hope an change", just remember Barney

Frank who was in charge of Fannie Mae, said it was in fine shape when his friend

Frank Raines walked off with thousands. Answer: PRIVATISE THE WHOLE THING. Get all the politicians (both parties) out of the finances. Als, look up what happened to the Glass-Steagal Act ( Republicans: Phil Graham & Jim Leach)

It is beginning to look (to me) that we are coming together under these greedy events. Seems like both Conservative and Liberal sides are agreeing on this destruction of the American way. Maybe it's time we both worked together on destroying the powers and monetary gains of the big business community.

Just sayin'.

then mama why aren't they in washington?

But they are, you just don't see it in the news. Just Google it and you'll see.

Or, as they say in the South: Awww, Hell naw...

Government's motto.. IF at first you don't succeed, throw more money at it.

And if you run out of money. Just print off some more.

In government, nothing succeeds better than failure.

Is this Obama's 2012 campaign slogan?

I think it's always the latter.

Once upon a time, bonuses were given based on how sucessful you were at your job. Now, apparently, the top tier gets bonuses based on how quickly they can fail?

Wow, it does not seem to matter to anyone when it is corporate America, even when it is part of their contract. Talk about talking out of boths sides of obama and the democrats mouths. They complain about corporate America with the huge bonuses then either keep their mouths shut or try to justify it when it is Freddie and Fannie. Also, keep in mind that the dodd/frank bill did nothing at all to Freddie and Fannie. Why? Because the democrats want Fannie and Freddie a federally back institution to be the only lender. Called total federal control.

Are we on the same Newsvine because I'm reading a whole lot of posts from all political types who are voicing outrage about these outrageous bonuses. Take it from an Independent with Left leaning tendencies. . .I'm outraged! Now, can we get back to real talk?

Right on! And they are saying they need to pay the bonuses to keep this "top talent"? Don't pay them their bonuses...let them seek employement elsewhere if they're that damn good! And speaking of "if they're that damn good"...why do they need more bailout money??? Right, that damn good my arse!

It's all those Masters on Burglary Administration. ;-)

I agree with you all the way until the end. In a "real company" most top execs continue to get their bonuses all the way until the end of their employment. Why do you think main street is so frustrated? Why do you think they were so angry at the bonuses the AIG and other executives got after the bailouts?

When the government bails out companies, that isn't capitalism.

I hope you are joking about the Soviet Union. If not, perhaps you should do some research.

Go Usa, 100 percent correct. This had NOTHING to do with capitalism. It is the democrats not holding fannie and freddie to the same standard at the rest of the financial companies. Don't forget the dodd/frank bill that did nothing at all to fannie or freddie. The same democrats that denounce the bonuses from other institutions say nothing or support these bonuses. What a bunch of hypocritical democrats. Bottom line is that the dems, just like healthcare want total federal government control of the financial institutions.

Don't forget the dodd/frank bill that did nothing

You should have ended the sentence there.

Bottom line is that the dems, just like healthcare want total federal government control of the financial institutions.

What we actually have right now is total financial institution control of the federal government, so what you say the democrats want would be an improvement.

Starts with the Occupy crowd. They are the most greedy out there. They think they have a right to someone else's.. Such as paying for their school, right to a job even though a company has no work for them to do.. Think they have the right to other's tax money... etc.... Greed...

Jimski: Calm self-confidence is as far from conceit as the desire to earn a decent living is remote from greed.
Channing Pollock

You really are so misinformed, go out and talk with them, then maybe you will understand. Most just want a job, with good wages & benefits, nobody is asking for any hand outs, they just want to work and provide for their families, just as you do. They are tired of all the money going to the top while the rest of us can't even make ends meet. We did not create this mess, Wall Street, Banks did and their greed, and that is why people are so angry, they need to be held accountable for the mess they got this country in. I do agree with you on one thing that we shouldn't have to pay for their college education, but their should be low interest loans for them.

Top ten highest paid state employees in Washington State work for University of Washington. The President of the UW makes over $400,000 per year. This is a public college! This is what OWS students are upset about. This is why college is so expensive. Student loans are required to afford these colleges. Why on earth is it necessary to pay the President of a public college $400k a year? State budged cannot afford it! The Governor asked them to close campuses, why? Fire the top paid people and hire affordable people!

Laura, most do not know what they want. They should not be protesting in the cities, putting businesses out of business, they should be in Washington DC protesting. Talk about misinformed. They want other peoples money, redistribution of wealth. They want their student loans wiped off the books and/or free college education. Most want what others are working for and paying for or money from them. They want others to pay for the their responsibility. They want others to be accountable for the choices they have made, instead of themselves being accountable for their actions. Bottom line, is that they want a free ride. I'm sorry, it is on tv almost every night.

Boss Tweed, Tammney Hall NewYork

Mark, you really need to stop watching Faux, go out and talk with these people, I promise they won't bite.

I don't see anything greedy about the Occupy movement participants in general; a very large majority of them are ambitious, intelligent, and VERY concerned about the future of our country. They are willing to put their normal lives on and risk injury or arrest to try to draw the attention of the general public, as well as the President, Congress, Big Banks and corporations, so that we will all realize our country is headed for disaster if we don't get big money out of politics and get greed in general out of our government. I would love to have the energy and courage to do what they are doing, and will be forever grateful to them for insisting that we can't go on with business as usual in the U.S.

jobless caretaker, the UW President is making half of what the fired Penn State President was making.

Fedup?? I couldn't have said it any better.. Greed is definitely taking over.

It just fits the pattern of Public Service Workers..... We are a Special Class of people that can do no wrong and really need to be Compensated a H--L of a lot better than the common man..... What a Crok of B.S...... The loses are going to continue since Forclosers are increasing again.....

Remember that when you need a policeman, firefighter, nurse, emt, get a drivers license, fishing license, ect... I could go on and on. How times a day do you put your life on the line??? Zerooooooooooooooooooo

yep

OHGuy, those are the very people I love to here the threats of quitting from and urge them to do just that. That is one way to shrink the size of government.

OH YEAH, Bush and company didnt do any of that...

sheeple

Dan Have you heard the latest news? Bush is no longer president!

vote em all out. that's the only recourse Americans have. not just one party. any washington fat cat.

ssmike...thank GOD!

ssmike

Dan Have you heard the latest news? Bush is no longer president!

AH, BUT HIS LEGACY LIVES ON!!!

and on and on and on and on! We will never forget how he almost destroyed this country.

When Bush tried to stop the carnage at Fannie and Freddie the Democratic controlled Congress (Frank and Dodd) refused to cooperate with him and told him there were NO problems at Fannie and Freddie.

Kind of like when Obama said that without the stimulus package, unemployment would have been worse. Idiots.

Keep government out of the bailout business. Let the failures fail and the winners win.

Scot, first, ALL of the banks have paid back their government loans WITH INTEREST. Bush's Tarp was a resounding success that didn't cost the government a dime. Second Fannie/Freddie are quasi government entities. They, along with GM (Government Motors) have yet to do so. And Fannie/Freddie/GM are a long way from being in good financial condition. Obama needs to shut down Fannie/Freddie thru bankruptcy court now. But he won't since all of these bonus infused millionaire 1% executives are Democrats.

Don, they paid back money, yes. All of it? No, people forget about all the bad assets the FED purchased. That is much, much more than what the banks paid back. Those bad assets were a majority of the banks financial problems, the FED buying those assets is what bailed them out. The money was a smoke screen for the American people to not see just how much the bailout realy was!

first TARP=Bush

sheeple like you seem to forget that

Ah, no Dan... I was opposed to that too you sheep molesting moron... You wish I was a sheep. Maybe if you got your head of of Obama's a-- long enough to ask questions, you might be enlightened to my opinions of things moron.

Jimski the worst part of this is the Republican choices are even worse then what we currently have..... Yep the TEA PARTY what a NON-OPTION.....

Ah, Mitt Romney, and EVEN GINGRICH would be better than Obama, you can have the rest of the slate.. Of course I am damning with faint praise, but its meant to show just how BAD Obama is.. Like Romney or not, he hit the nail on the head about Obama.. Nice enough guy, just way in over his head and doesn't have a clue what he is doing.

Obama's administration had oversight on TARP. or lack thereof. Obama needed to earn the millions in wall street campaign contributions.

Jimski,

We ended up with Obama because of people like Dan (post #22.1), OHGuy (post #22.3) and the majority of the posters on the vine.

Dan,

So just because Bush screwed the pooch on the TARP and the bailouts, it's OK for Obama to do it times ten?

OhGuy,

Nothing is worse than what is in the White House. Cain, Gingrich or Paul would be far better. Heck even Bachman would be better than Obama.

WHATS THE MATTER JIMSKI?...HIT A NERVE WITH THE SHEEPLE COMMENT?

HAHAHAHAHAHAHAHA

no real argument, just anger, i love that...

as for you, Jeffersonwasright, What do you think would have happened to this country had the GOP actually did their job and worked WITH Obama and not actively and openly undermining him....??????

secondly, times ten?..lol, math not your best subject i guess....

you want to go deeper?..lets go to the ROOT of the problem...Reagan, he created the FALSE way of thinking the GOP so revears now....TRICKLE DOWN, lol the only thing that trickled down, was the people wealth..

as for people like me giving us Obama, what the hell is wrong with you?

OH so McCain and PALIN would have been better in the White House?

REALLY?

tell me all knowing jeffersonwasright, who, even NOW would be a better POTUS?

king of the flipflop, able to bend whatever way the wind blows Romney?

999=666 Cain?

Crazier that batsheet , I married a closet gay Bachman?

Newt?....hahaha

Im another lying cowboy Perry?

the ONLY one that would be ok would be Huntsman, and just isnt crazy or radical right enough to get the nomination..

so again i ask you, who?

YOU ACTAULLY THINK ANY OF THOSE TRICKS WOULD BE BETTER THAN OBAMA?

OMG ARE YOU....I HAVE NAMES FOR PEOPLE LIKE YOU, BUT I DONT WANT TO BE BANNED...

WOW....no use discussing anything with you, you have no idea what you are talking about

Jimski-1998126

Ah, Mitt Romney, and EVEN GINGRICH would be better than Obama, you can have the rest of the slate.. Of course I am damning with faint praise, but its meant to show just how BAD Obama is.. Like Romney or not, he hit the nail on the head about Obama.. Nice enough guy, just way in over his head and doesn't have a clue what he is doing.

HILARIOUS!!!

ROMNEY COULDNT EVEN RUN A STATE, and you think he could run a country?

sheeple...lol

A Monkey in the Whitehouse would do better than Obama. Did I say Monkey, Oh I forgot he only looks like a Monkey.

Dan, no, you didn't hit a nerve, your just an idiot. I live in the State Romney ran a WHOLE LOT better than Deval Patrick.. Know your facts fool.

Let them go back to corporate banking... With those results.. I'm SURE they'd be hired right away.... WHO WOULD HONESTLY TRY AND STEAL THESE PEOPLE?

You can argue whether or not the bonus payments were appropriate, but Fannie and Freddie are not part of the federal government which has no control over what bonuses are paid to whom.

Peter, Are you serious or have been living under a rock? The US government DID take over both entitities after the sub prime crisis. Besides, both entities have been heavily subsidized by the US government since their existence. These are anything but private corporations.....

Peter - as government sponsored enterprise they have always been closely regulated by the Federal Government, including review of pay of senior executives. Since being taken into conservatorship by the feds in 2008 they are completely controlled by the Government.

Federal government? Only partially correct. Try the democrats. They are at fault here. They did not include Fannie or Freddie in the dodd/frank bill. Neither one. They held the private financial insitutions to a different standard than the federally backed institutions. obama and the democrats bitched, whined, and complained about the other institutions gettting bonuses, even when it was part of their contracts and the institutions said they needed to do to keep top talent. Different story for Fannie and Freddie who the democrats do not want to hold accountable. How pathetic.

Economan

Now that is Rich...literally. First of all what book of CEO did you study? That is why they are paid the big bucks?lol Coming from a former VP, let me explain something to you. The way the pay structure is set up, it's like winning the lotto only everyone including the share holders suffer when the CEO fails. Don't tell me what is what, I have been part of the senior executive structure.

Who in their right mind sets up a pay structure where when you get fired for doing a bad job; you get paid again? You get fired and have no job however the shame on you is million dollar plus check and ton of options you can cash out?

It rewards the person who is the "figure head" of the company for failing. Any CEO isnt worth their weight in dirt if the VP and ESPECIALLY the regionals arent superstars. They are the ones running the divisions and developing the talent. A CEO with this pay plan can do something that can cripple a company in the long term however, in the short term increase his bonus and stock options.

I had a CEO who was a former VP at the company I worked for bring me over to his new company to help build the Marketing & Sales departments. Little did I know as I was working 60 plus hours a week and then commuting another 2.5 hours a day, that this gentleman started to problems on the home front.

Did I have a nice salary yes however, what pulled me away from my current company was the bonus structure that was offered. It was a pay for performance bonus and as I was building our marketing department and my bonuses were ready to kick in, I was asked by the CEO if I would hold off a month or two as the it was a substantial amount and we were still considered "a start up" I agreed. I made a nice salary, what is a few months right?

Well of all people the CEO apparently develops an expensive "self medicating" habit to deal with his upcoming divorce and has decided he had a surprise coming up for me also as now his soon to be ex wife is gonna take a large amount of the profits. I'm asked to go out of town one weekend and visit with some of our sales people and this CEO(Who according to pinhead Economan) It's none of my business what he makes or what he does:) Approaches my (junior exec and protege)and offers my job up at less then half the pay. He was a good kid but not ready for a promotion of this magnitude.

I come into my office Monday (a beautiful view I might add in DTC) and the CEO walks me out the door to go to get "something to eat" and as soon as we walk out the front door, he spins around and hands me a Manila envelope and says here. When I open the envelope and see that it is from an attorney. He says you're fired and if you contact any of your former employees I will come after you legally. When I say what the hell is going on? My self medicating CEO pulls out a stun gun and says if you come near me, I zap your #$%$#. This has 50K volts and I'm not #$%$# around.

Apparently the self medicating also enhances any sense of self paranoia and he decided he might need that at my time of termination. I worked with this guy for years and he never displayed any type of behavior at all like this.

So I have him dead to rights correct? I mean surely that was caught on Camera and he was gonna be nailed with a felony right? This particular Regis owned building of all things didn't have cameras set up in the entry way. Even though there were witnesses upstairs he showed the stun gun to afterwards, the Englewood Police department did nothing except call him on his phone as there was no witness when he pulled the gun out. The detective went from felony to nothing in 4.3 seconds.lol

Despite me having a signed contract, do you think I had him dead to rights? I never received my bonus, the labor board does nothing except make phone calls and send letters, they have no power to help you. I had to get an attorney, even though I had a signed pay structure and contract. I had to pay 5K down only to have him evade being served numerous times. He finally had to go to court which he skipped. Im Golden now right he defaulted? That isn't how it works folks, your rights as an employee are non existent. If its not sexual harassment or something on a federal level, good luck. Even though he pulled a weapon on me, didn't pay me and despite a signed contract and no show in court do you think he was jailed?

Nope, I have a default judgment stating that if he sells his house etc a lein will be applied. This judgement of course has a statue of limitations....my 5K to get my bonus money? Gone.

My point is...the employee has no one concerned about him and the law isn't set up to protect you. This had never happened to me and could happen to you or anyone else.

When do we care about people and stop with the everybody is a bum and everyone who is wealthy deserves it. Really? Are you that clueless?

When you ruin a company and cause massive financial destruction, you should not receive a bonus for it. If that doesn't make sense to you, you aren't going to see what is coming either.

CRI,

From your telling, it sounds like you worked for a CEO who wasn't worth what the shareholders were paying him. Too bad the shareholders didn't elect board members who would fire him.

But your case illustrates the truth of my numbers. How many more millions of dollars of profit would your company have made with a good CEO? Lots, right? Wouldn't it have been worth an extra $5-10 million to have a good one instead? (By the way, from your description, one should conclude that one of the talents a CEO needs is the skill to hire and promote the right people to vice president. Failure to surround himself with the right talent is just another sign of a bad CEO.)

Re the part about whose business it is what CEOs make: You actually had some personal interest in it. Perhaps a legally enforceable financial interest, too. But for the 300 million other people in the country who don't work there and aren't shareholders, but are carping in the news and on Newsvine, it's none of their business.

You mention that bonuses were what motivated you to switch jobs. Let's stipulate that you were worth the salary, bonuses and even more. What do you think of some idiot on the street ranting about you getting a good bonus after you've done your job? Well, that's about what I think of the clueless clowns you see ranting in the news about employees doing their part of the employment deal and then being abused when they're due their reward. A deal's a deal and it's no one else's business.

P.S., Sorry things didn't work out for you at your job.