WHY IS THE WHITE HOUSE silent on Fannie / Freddie bonuses? “Barack Obama has exhorted supporters to object to large bonus payouts at financial institutions that took TARB bailout money. The House Oversight Committee and its chair, Rep. Darrell Issa, want to know why Obama hasn’t objected to the ridiculous levels of compensation at the two largest bailout recipients — Fannie Mae and Freddie Mac. In a new report (embedded below) titled ‘Government-Sponsored Moguls: Executive Compensation at Fannie Mae and Freddie Mac,’ Issa and the Oversight Committee detail executive compensation at the two GSEs, who — unlike their private-sector counterparts who have either fully repaid or are in the process of repaying their bailout funds — still demand more bailout money from Congress.” Plus, an ad using Obama’s own words to underscore his hypocrisy:
It’s like a commercial for Iain Murray’s book!