Eye On Freedom – Keeping a watchful eye on the preservation of our liberty at home and freedom around the world

Today’s mea culpa by finance executives includes the puppets in the Fannie/Freddie disaster ($127B and counting). In 2005 the chief regulator of Fannie and Freddie was addressed an accounting mini-scandal related to bonuses. They were basically moving earnings around to hit triggers, so their executives could receive their multi-million dollar bonuses. As Fannie and Freddie are filled with political hacks (Jamie Gorelick, Bill Syron, Franklin Raines), these are the prime sinecures of top Administration bureaucrats, and Congress appreciates the incentive this provides their minions. Ex-congressman are known to get lucrative consulting contracts with them. And all of this is subsidized by the U.S. taxpayer.

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