Relevant:
- Freddie Mac posts $354M "Don't Worry, It's Just Derivatives" loss; Cuts Dividend; Won't Draw on Treasury
- Freddie Mac Reports $2.5 Billion Loss, Asks For A Mere $100 Million
- Gingrich Said to Be Paid At Least $1.6 Million By Freddie Mac
- Freddie Mac Reports Better Than Expected First Quarter Results
- Freddie Mac Reports Quarterly Loss, Seeks $500 Million in Government Aid
2008-07-19 — blownmortgage.com
Dick Syron, Freddie Mac chairman and CEO took home nearly $20 million last year and can take home another $20 million this year reports the Associated Press. This for the man that has guided Freddie Mac’s stock to it’s lowest point since 1991 and presided over a $3 billion net loss for the company in 2007.
Hey, let's be realistic. The man is being paid handsomely for being a political pincushion, not running a legitimate company.
But still, this is yet another example of privatized gains and socialized losses.
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