Home / Government / Sweet Deal: Fannie Mae/Freddie Mac Heads Make $6m a Year
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Sweet Deal: Fannie Mae/Freddie Mac Heads Make $6m a Year

Written by Gary North on November 16, 2011

And you think a government job doesn’t pay well.  Think again.

The top six executives at the two busted, bailed-out, nationalized outfits got $35 million for two years of hard, hard work. The two heads got half of that.

This year, they may clear $6 million each.

“Nice work if you can get it, and if you get it, tell me how.”

A few members of Congress snort and whine and make outraged noises, but nobody gets fired.

For $6 million a year, I’d take a lambasting verbally. “Sticks and stones will break my bones, but I will still collect my paycheck.”

In Washington, D.C., people get paid very well for massive failure. Fannie Mae has asked for another $7.8. billion in bailout money for this year. Freddie Mac has asked for a “mere” $6 billion.

Congress will pony it up, despite snorting. Watch.

This sort of thing will never end until the federal government finally goes belly-up. That day will come. Until then, the public will be fleeced.

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37 thoughts on “Sweet Deal: Fannie Mae/Freddie Mac Heads Make $6m a Year

  1. What B.U.L.L.S.H.I.T.!

  2. Absurd!

    Congress should be accountable as long as Fred and Mac aren't .. perhaps it's much better both are held accountable.

  3. Scott C. Spring, TX says:

    I believe that We The People should be able to take those theives to court and prove fraud and theft once we elect an honest, law abiding leader. Perhaps they should live on a dollar a day in an 8' by 10' cell for the rest of their lives. Folks, this is doable! We must clean house. YOu want stimulus money well spent? Spend it on prossecuting the thugs in this present administration and past administrations that have ripped off the American tax payer. That would be money well spent. And let's get rid of any prison that resembles a country club. A prison should not be enjoyable.

  4. This level of compensation is criminial, These companies are not only "broke" they were the catalist for the financial meltdown this country is now suffering.

  5. all 535 of those sons and dauters of bitches in washington dc should be in prison or shot in the head

  6. Edward Gougeon says:

    Thieves is what they are……all of them. Franklin Raynes the previous head of Fannie-Mae got close to $100 Million and here we are a lot of us unemployed paying those THIEVES. They should be ashamed when they look in the mirror……..of course people like this have no shame.

  7. All of these people should lose their jobs because they are stealing from us and they are thieves.

    Why can't the government stop this Oh I forgot they are so far into Obama's or Barry Soetoro or maybe Harrison J Bounel pocket they can't find their way out.

  8. bobby nealey says:

    the tax payers are not stupid enough to pay anybody that kind of money,there are plenty of people that would do those jobs just as good and probably better for a fraction of that and be glad to have the job but as long as polititions keep appointing their friends to the job and give them anything they want after all it's not their money and they can get a big campaign donation from them.The stupid tax payers will keep dishing it out and the polititions will keep wasteing it.

  9. Who decides what these people earn and who decides theses bonusess. These people are getting paid with our money, and doing the job of losing our money and getting paid for it.

    What can we do about it.

  10. This is crap paying people huge money when they needed to be bailouts

  11. I would like to give them 6 million pounds of dog crap instead!

    Damn Socialist!

  12. For the second time since the Fanny Mae and Freddie Mac have gone belly up and had to be bailed out WHO? signs off on the approval of the Department Heads payoffs? WHO is responsible for their oversight and takes no action for failure which has resulted in the overburdened costs to the taxpayers? Why are those that are in charge of the oversight committees not being held accountable? The legal, taxpaying, voting citizens demand to know WHO is going to stand up and either demand an accounting or take the heat for their lackadaisical performances? A bonus is granted for above and beyond expected performance that has shown to be to the benefit of the enterprise! Both of these failed enterprises are and have been a disgrace to the profession and only leads one to believe that either the perpetrators are totally inept at their jobs or there is substantial collusion, deceit and rampart theft of services that the administrators have failed to provide the taxpayers. As a taxpayer I am sick and tired of lame excuses and the continuing saga of paying for a product that has not been satisfactorily received.

    Major Daniel P. Corcoran

  13. It takes money to take care of Newt Gingrich.

  14. So, a person making $50,000/year after taxes, which could be considered a reasonabe wage now-a-days, will have to work for 10 years to earn what these cheats make in a month. HOW SAD!!!

  15. I totally agree with you…A prison should not be enjoyable…. If you don't have a family or job and have no where to live, commit a crime and get FREE EVERYTHING FOR LIFE!!!!! And these folks should have to pay it back!! None of them understand the word LAW. Their favorite word is SELF! And their pockets are full! And puts a new meaning to STUPID and GREED!!

  16. You are absolutely right. Prison should be a place that sucks so bad NO ONE who has been there would EVER want to go back to. NOT a country club.

    Corruption in government at any and all levels should result in a 25 to life sentence TO be served in full. No exceptions. Casting a vote CONTRARY to positions stated to the voters,failing to uphold the oath of office, and implementing or following ANY AGENDA NOT REVEALED IN FULL TO THE PEOPLE DURING THE ELECTION CAMPAIGN should result in immediate arrest for any government official. A special court should created staffed with personel VOTED IN BY THE PEOPLE to carry out an immediate trial. NO APPOINTEES. In the presidents case arrest should take place whenever he/she violates the Constitution, or the oath of office.


  17. bobby nealey says:

    Do you even know where you are or what the heck you are responding to or about

  18. Theyare all walking in the dead zone!

  19. Tis sad but true,but I will say again they are all walking inthe dead zone!

  20. bobby nealey says:

    with the money obama has wasted on bail outs,job stemilus, and outragious salarys he could have paid off all the houses for the people that have lost them and all these people that have lost their jobs , the money could have been punt in a trust to help these people till they could find another job and he still would not spent as much as he has wasted but then he couldn't have bankrupted the country because then the people would have spent it to support their famelies and not stuck it in the bank and stocks like his friends did when he gave it to them.

  21. bobby nealey says:

    theives for the government supported by the government-your government in action

  22. Gary J. Mallast says:

    Ha Ha. According to information I found a few weeks ago on a site dedicated to listing who are the highest paid people in the D.C. area, they said the head of Fannie Mae gets a nominal salary of $400,000 a year but that his "total compensation" (whatever that means) comes to $24 million. Who's right?

    Think of all the people struggling to get buy in what I firmly believe is a deliberate depression whom Fannie Mae is throwing out of their homes: people working hard to find any job and reduced to less than $24,000 a year and this boob that is trying to throw them out of their homes and is running Fannie Mae into the ground is making $24 million all of it taken from taxpayers at IRS gun point.

  23. Your boy, Gingrich, got payed $1,300,000 by these people to lobby for them in congress to help rip us off even worse.

    Mr. Ego-maniac is a horrible choice for president, isn't he/

  24. applepicker says:

    You are right Bobby,but I sure wish you could spell better.

  25. Any congressman who opposes and audit I would suspect to be envolved, how about you?

  26. Scott, I agree with you 110%, but these thieving pigs will never see the inside of a jail for anything they do. Look at the Solanydra deal, they gave a failing company $ 535 million dollars and then days later the co. files for bankrupcy and we have no way to collect on this. There is no bank in the world would loan that kind of money out with no way of collecting some how. These people need to be held accountable for this crap, especially the head moron Odumbo who needs to be drawn and quartered for what he has done to this country the phony bastard. He is working for us and we should have the option to FIRE this jerk, he has no valid social security number and we allow him to continue, if it was anyone else we would have been in jail already and we wouldn't still be getting paid until we could answer for it and prove things. I don't understand what is wrong with this country when still 47% still think he is doing a great job, he can't show a valid birth certificate or soc. sec. number and he goes by another name of Joe Soetoro, who is this moronic jerk thief muslim pig?

  27. Molly Murrill says:

    Did you all read what happened to an organized meeting of the Tea Party today? They planned to bring their budget plan, and other ways to get our country on track, but the senate Democrats (Harry Reid) would not allow the meeting as it had been scheduled, took away their microphones, pulled a couple of other sneaky, shady tricks to try to keep their meeting from taking place. Senator Mike Lee quickly arranged to hold the meeting elsewhere, and those present walked with Senator Lee to the alternate location and they held their scheduled meeting only a few minutes later than planned. I am looking forward to hearing a lot more from this group of honest Tea Party members, who are truly interested in taking back our country. Some of us may have to fight to accomplish this but it may be the only way. God is with me – is he with you? Our nation surely needs Him. God save America, and God save all of us who love Him and God bless America.



  29. Pat Janssen says:

    We all need to quit paying taxes or nothing will change. Let's get calling the White House, Senators and Representatives now! White House # 202-456-1111. We The People have had enough of their BS!

  30. Tated.hat entire Freddie-Mac deal should be audited from it's first legislation regarding these monstrous loans backed by Barney Frank and Chris Dodd. Both these men should be thoroughly investigated. Something really stinks here.

  31. bobby nealey says:

    me to

  32. Freddie-Mac bought my college loans from the bank where received money. I was called back into the Service, "Army", and four years later I was disabled and was forced to retire. I had two children and my wife. I had to live in a basement and Ford Motor reposed my car after missing two payments, Ford was nice about the loan from them. I had paid more than half the loan, but they had the right to take it. I waited more than 6 months for VA pay, which replace my Army retirement pay. Freddie-Mac called me every day, I was called everything but what I was. I was lying in a bed 24 hours a day, not knowing if I was going to die or not. I was called a dead beat, lazy and that was the nice names. They hounded me and call at all hours. They told me how they were going to take me to court, and take all I had. My wife started a new job and I call the bank where I had the college loan with to start with. They saw were I had lost my car but they had a heart because I was disabled, service connected, and they loaned us the money to pay off Freddie-Mac. It is hard to write this, because how they treated me.

    Now, when I find out how much these assholes are making, nobody is worth 6 million dollars. I was worth 30 thousand dollars dead. These blood sucking animals should be charged with mismanaging of funds and put in prison for the rest of their lives. If I mismanaged a few hundred dollars while in the service, I would be facing prison. Are they too good or worth more than a solider? After several operations, I am still here, VA paid for none of the operations. I have to pay for private insurance, $800 per month. My insurance TRICARE from the service was very good when I retired but now most Medical institutions will not take it because of congress robbing it to pay for some free program in turn for votes. We, The People, need to get an investigation of all these crooks. It is time to take politics out of these programs and if they fail or don’t deliver, jail the people ,from the top down not from the bottom up. How much money was gave to elected officials? Jail these bozoes. 6 Million Dollar man, curse him and his kin!

  33. David E. Aldridge says:

    Pretty much, all of you are correct. Until we really start all over again, make lobbists illegal, make an example of the first one caught cheating, things will roll right on the way they have for years. Inside the Washington beltway is a mindset that ignores the fact that we sent them to do a job, not get rich.

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