$4M raises for 2 earn July’s Fleece$4M raises for 2 earn July’s Fleece
Washington, DC,
August 2, 2015
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By Sarah D. Wire of the Arkansas Democrat-Gazette
On Thursday, U.S. Rep. French Hill gave his Golden Fleece award to the Federal Housing Finance Agency for approving approximately $4 million in raises each for the CEOs of Fannie Mae and Freddie Mac...
On Thursday, U.S. Rep. French Hill gave his Golden Fleece award to the Federal Housing Finance Agency for approving approximately $4 million in raises each for the CEOs of Fannie Mae and Freddie Mac. Since being placed in voluntary conservatorship by the agency in 2008, Fannie Mae, the Federal National Mortgage Association, and Freddie Mac, the Federal Home Loan Mortgage Corp., have received almost $200 billion in government assistance. “This is insane,” Hill, R-Ark., said in a statement. “The Treasury is opposed to it, President [Barack] Obama is opposed to it, and this agency went ahead and did it anyway, and for that insanity they have received the Golden Fleece for July.” In May, Hill announced that he would begin handing out the awards, reviving a 13-year project begun by former U.S. Sen. William Proxmire, D-Wis., who announced 168 monthly winners of the Golden Fleece award between 1975 and 1988. To read more click here. |
