Obama signs bonuses for top twelve Fannie and Freddie executives

Democrat, Liberal, Government, Incompetence, Financial, Brilliance, Oops, Economy

President Obama signed off on $42 million in bonuses for the top twelve Fannie and Freddie executives, including $6 million apiece for the two CEOs.

Administration pushed for language protecting bonuses - CNN

Democrat, Hypocrisy, Obama, Financial

Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored. Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.

Obama Calls Bonuses ‘Shameful’ as Dodd Vows to Reclaim Money - Bloomberg

Democrat, Hypocrisy, Incompetence, Obama, Financial

Jan. 29 (Bloomberg) -- President Barack Obama fed a swelling populist revolt against Wall Street bonuses, calling it “shameful” that banks doled out $18.4 billion as taxpayers bail out companies and the U.S. remains mired in a recession. The bonuses are “the height of irresponsibility,” Obama said today before meeting Treasury Secretary Timothy Geithner and Vice President Joe Biden at the White House.