In response to:

Fannie Mae Employees Keep Fat PayChecks at Taxpayers’ Expense

Jim88 Wrote: Feb 04, 2013 8:37 AM
Let me ask; If the Reversable Mortgages are such a good investment idea why aren't the major banks, and lenders willing to do them without a federal loan guarantee from Fannie Mae?
Ron781 Wrote: Feb 04, 2013 10:17 AM
When you can get zero risk and still be paid to take a risk, its just good business to let the risk taker get his way. But we are the risk takers and get no say in the matter.

Earlier this week the Inspector General (IG) of the Federal Housing Finance Agency released a report documenting the current pay levels of mid-level executives at Fannie Mae and Freddie Mac, those mortgage giants which contributed to the financial crisis and have so far cost the taxpayer over $180 billion.   Despite the bail-outs, it seems the GSEs are still a comfortable place to work, all at the taxpayers’ expense.


Related Tags: Expense