Freddie Mac Seek $6 Billion of Treasury Aid After Executives Get Big Cash Bonuses (MILLIONS)

First there was this…


Fannie Mae, Freddie Mac executives get big housing bonuses

The Obama administration’s efforts to fix the housing crisis may have fallen well short of helping millions of distressed mortgage holders, but they have led to seven-figure paydays for some top executives at troubled mortgage giants Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency, the government regulator for Fannie and Freddie, approved $12.79 million in bonus pay after 10 executives from the two government-sponsored corporations last year met modest performance targets tied to modifying mortgages in jeopardy of foreclosure.

The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts — and despite pledges by FHFA, the office tasked with keeping them solvent, that it would adjust the level of CEO-level pay after critics slammed huge compensation packages paid out to former Fannie Mae CEO Franklin Raines and others.

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Then comes this…


Freddie Mac Will Seek $6 Billion of Treasury Aid After Posting Wider Loss

Freddie Mac, one of two mortgage- finance companies under U.S. conservatorship, reported a $4.4 billion loss for the third quarter and said it will seek $6 billion from the U.S. Treasury Department.

The company, confronted with a weak housing market and losses on derivatives, will draw on its Treasury cash lifeline to eliminate a net-worth deficit of $6 billion for the three- month period ending Sept. 30, according to a Securities and Exchange Commission filing today.

Today’s request brings Freddie Mac’s total Treasury draw to $72.2 billion. The company has returned $14.9 billion of that money to taxpayers in the form of dividend payments to the government. Freddie Mac’s $1.6 billion dividend payment in the third quarter contributed to its net-worth deficit, the company reported.

Rest here…

This is why people in America are very, very pissed.


40 Responses to “Freddie Mac Seek $6 Billion of Treasury Aid After Executives Get Big Cash Bonuses (MILLIONS)”
  1. lvent says:

    I am going to try to post the latest Keiser Report entitled Make Love, Not Debt…Max and Stacey talk about Fraudclosures and Foreclosuregate and the Stephen Baum Halloween Party….it begins at approx. 7:10:

  2. lvent says:

    I just saw an interesting interview on RT News with Buddy Roemer…He is running for President for the Republican Party..I did not know of him but I really liked what he had to say on tonites Alyona Show…I guess he owns a small community bank that is worth about a billion dollars… His bank has not foreclosed on not one homeowner…Buddy Roemer backs Occupy Wall Street and said most of Congress is bought and forget about blaming the Fed and Wall Street, this crisis is ALL Washington’s fault and that Obama has the power to put all of them in line…He stated that he takes no donations from PAC OR APAC….I am going to investigate him..He stated that he was a Democratic member of Congress 20 years ago but he claims that he never took any money from any of those organizations back then either….I am not a fan of either party and swore up and down I would not vote for any of them but this man made sense. Then again, so did Obama and that did not pan out so well…if they sound to good to be true, they usually are, and they all lie…..ALOT..!

    • I vent….That is where you and I think different….I did NOT vote for Obama…it was so clear he was up to no good….one could hear his BS…one could see it….one could feel it….it would actually turn me off when the people screamed and raised their arms as if he was some God….he had no power in his voice…his answers were elementary…not professional at all….I know guys on the street that would have made a better candiate than him…and I am not saying the other party was any better. It was the worse campaign I have ever seen in all my many years….it actually was degrading to the country…..I said than and now…it was a fake put-on…a disaster waiting to happen….and it happened….and where is that guy that the people all screamed and drolled over ??? Out of sight…with not a care for this country…or the people….this man needs to be impeached…he is with the enemy….not with us. He has the power….but he never intended to use it….he just suckered the people in…………………

      • lvent says:

        Marilyn, I DID NOT VOTE FOR OBAMA….

      • lvent says:

        Marilyn, where did I say that I voted for Obama….? I never drank that Hope and Change kool-aid..!

      • I vent….I never said you voted for him…..but at times you said you thought he would do good for the country….and than at times you spoke against him….I did not say you voted for him…but when you would make statements for him…. just did not seem you were against him….I never saw any good in anything he said or did….I plain out saw he was up to no good..period…..and it stands that way. But no..I did not say you voted for him…read my comment again…it was at times you spoke good of him…and later on you spoke negative of him…it was the good that made one think you sided with him at times ….you know people vote for someone and have hopes of change and down the road realize there is no hope of change and than their thinking leans the other way. That is the way your comments come through when one follows them…not that you voted for them or didn’t vote for them……In your comment you spoke of Buddy Roemer and ‘ said he made sense….then again, so did Obama..’…that right there confuses one reading it….like me…I saw no sense Obama made… did……that was what my comment was about…..your opinion in what you thought of making sense……that is where we differ….simple as that….you misunderstood my comment….I stressed I did not vote for him….I saw it all during campaign….and my thoughts have never swayed…never…

      • lvent says:

        Marilyn Abdilla,, I NEVER SAID THAT I THOUGHT OBAMA WOULD BE GOOD FOR THIS COUNTRY… NOT EVER. You must have me confused with someone else…maybe Rob…Rob voted for Obama…..I SAID I WAS WILLING TO GIVE HIM A CHANCE WHEN HE GOT ELECTED…..BUT, HE BLEW IT….

      • I VENTt…..CALM DOWN….In the past when remarks were made about Obama….your wording may have led me to think you were SIDING with him AT TIMES….it is in the eyes of the beholder……I NEVER said you voted for him…yet you said I did…so you also see things that are not even there in the comments…..I even told you to read my comment again and tell me where I said that…AND i DID NOT SEE YOU REPLY……so let’s not harp on others when you also misconstrue what others are saying in comments….you jump to conclusions at times I vent….and fly off the handle….you are stressed out and need to realize you are on the defense of foreclosures and your defense carries on in the comments…when you twist the wording and make it something it is not….take your comment of today…” I was willing to give him a chance when he was elected..but he blew it “……right there…some may read that and think you voted for him……And others may not even give it a second thought….That is an example of what others may see and think….and it might not be what you are expressing…..I am not mad or angry…but I just have to say…I think you look for ‘ things ‘ to express your built up anger on….and the anger is from the massive scam done to the country…..this anger has consumed your life and this I can understand…we are all in it too….. you are not alone…………

      • lvent says:

        Marilyn, I am calm…It sure sounded like you insinuated that I voted for Obama….and I have never sided with Obama…that is another insinuation….I gave Obama a chance, but that does not mean I sided with him. To me the proof would be in Obamas good works. I was patient,..but to date, there are none… Just because I did not vote for the man, does not mean I would not give him a chance…..But now he has had 3 years and things are worse, and he has done absolutely nothing for America except blame others…..

      • lvent says:

        BTW….It is not me jumping to conclusions Marilyn…. you might not mean it, but you are making insinuations….You are speculating on what I am meaning to say and forming an opinion..

      • lvent says:

        Marilyn,This is ridiculous, I am not trying to argue with you but, I never made any such statements..

      • I vent….How would anyone on here know what you are ‘ meaning to say..’ …in other words…you were meaning to say…..but should have worded it another way….and when people express their opinion of their thinking or something they have read…that is their opinion…their right…..This whole issue started with you insinuating I said you voted for him…when in fact I never said that….so insinuation seems to be the key word……

      • lvent says:

        O.K. Marilyn, you said,….” that is where you and I think different, I did NOT vote for Obama” What did you mean by that statement? Please clarify…. I said Obama made sense when he was running for president and that clearly did not pan out so well…What “thinking’ of mine were you referring to?

      • lvent says:

        Marilyn, there was nothing hard to understand about what I typed in that comment…There was nothing vague about what I meant by that comment or anything vague or hard to understand in my grammar….You are trying to win an argument by correcting my grammar in another comment, not the original comment..

      • lvent says:

        Marilyn what in the world are you talking about, how is anybody supposed to know what I am trying to say? I speak and write fluent English….What is so hard to understand? You are the one who said something in my comments” led you to think”…so in other words, you jumped to a conclusion out of an opinion that you made up in your own head…and then you posted that conclusion as a fact about me that was an opinion, not a fact…….

      • I vent….Enough is enough…..Right there is where we differ….Obama did not make sense in his campaign….as I said before it was a complete fake campaign….and it has proven that….people did not know who backed him up and what the past years were leading to…years before that campaign the build up of today was there…people just did not see it….they only saw some Change….someone NEW….so that is what I mean when we differ…his back up told me where he was coming from and who paid the bucks to see him get in….and I did not fall for anything he said. in the campaign or after….him making sense …that I did not see… or anything he said in office……I certainly would not give someone a chance running this country…when the books and internet already had info of what was ahead for this country and who was behind it all. we were already in hot waters before that campaign…and no one bothered to listen….they just wanted Change…and they got it. I knew to read what was happeneing to our country from a statement told to me by a fella student from Syria ( 1985 ) that the ‘ devil ‘ would appear in America after the year 2000…..after that year.. the years started to be a disaster in this country….and the people still fell for 8 years of Bush..not realizing who he actually was and who he was ‘ working ‘ for…same with Obama…the people knew nothing of him and fell for what he said….that I vent…is what my comment was about….you said he made sense but it didn’t pan out…and i disagreed by saying we differed…I saw no sense at all.. Now do you get my point? Can we hug and make up …..Rob would be completely disappointed to come back from New York and find we are at war with each other……

      • lvent says:

        Marilyn, I did not vote for Obama..not because he did not make sense. I don’t think anyone would deny he was a great speaker during his campaign and he made alot of promises that the people knew were needed..Many people were fed up with Bush and gullible…. The media did report that these were the same economic conditions that brought on Hitlers rise to power….I thought he lacked experience..he had not even completed a full term as Senator..and honestly I knew nothing about him..Obama came out of no where made a speech and alot of people loved his speech and next thing you know he was running for President? It was weird…..You saw something in him or heard something that you took as a warning about him…I am aware of the prophecies too…I thought it was creepy the way people acted like he was the second coming, esp in Europe, I think it was in Germany in that one speech he made…masses of people showed up to listen to his speech….it was creepy. I consider you my friend at this website Marilyn, and I do not want to argue with you..we both know that is what they want.divide and conquer…If that happens, how will we run this country together when we get elected?…LOL!!!

      • lvent says:

        Marilyn, did you hear the latest on the middle east…? RT News reporting Israel is threatening to take out Irans nukes and Putin is saying…you better not…! I remember Putin told Obama a while ago that if the U.S. fires one shot at Iran, it will be WWIII.. Sounds like an Armegeddon scenario..!

      • Bobbi Swann says:

        Hey Ivent & Marilyn – the two of you running the country? Now THAT I would vote for!!!! You could put Houseman Rob in charge of foreign policy!!!

        WOW! What a team!

      • lvent says:

        Thank Bobbi!…would you be interested in the Geithners post? He will be removed on day 1.

  3. And the extraction of trillions of dollars from the tax payers to the 1% continues….

  4. Jan says:

    JP Morgan Chase foreclosed on my house, when Freddie Mac owned the mortgage (JP’s attorney lied to court) and then JP sold the house to Freddie Mac. Let me tell you, this whole foreclosure thing is a scam.. We need to sue the federal government for allowing this nightmare. THEY were the ones that gave the money to the banksters. THEY are the ones that keep bailing out the crooks. People, the federal government is stealing us blind, using their bankster friends to do it. Time to file a class action against the government and shut them down until the PEOPLE get justice and a moratorium is enacted on foreclosures.

    • lvent says:

      Chase frauclosed on my sister the day before the moratorium on fraudclosures last year…She is going to court on Friday and is afraid she is going to be evicted…I told her, you tell that judge that you did not have and attorney or your day in court…and you want a redress…This is America….She hired an attorney after the foreclosure and the Attorney told her..he requested docs from Chase and they told her that they DO NOT HAVE TO produce docs once they have fraudclosed…Someone is a dirty liar…

      • I vent….There are a few that come on here who know the laws and so forth….maybe with luck one will read your comment about your sister’s issue…As far as Chase goes…they have not foreclosed on my daughter and they still refuse to produce any documents….they had nothing in the foreclosure filing..judge told them to re-file again with proper documents…2 weeks later they filed same crap….immediatly a Request to Produce was filed…nothing for almost 10 months later..Chase answers with ” OBJECTED ‘ to all 21+ requests…..Chase don’t have shit to show…this has gone on now for almost 2 years…..Was Chase the original bank your sister dealt with at her closing ?

      • Bobbi Swann says:

        Marilyn & Ivent – Chase is involved in my foreclosure. First they filed under Chase Home Finance, which does not exist in the State of Florida. After many many Motions to Produce and then filing a Motion To Dismiss they cancelled the hearings – that was almost a year and one-half ago. Now I get a Motion to Replace Plaintiff. They are wanting to substitute Chase Bank NA as the Plaintiff instead of Chase Home Finance. They also filed a motion to drop the Lost Note Affidavit from the foreclosure. I have filed a Motion to Deny on the Subsitution. How can a bank just simply replace one Plaintiff with another in the middle of a foreclosure? In my motion I have asked the court to rule on the Motion to Dismiss that I had filed last year. They have no ORIGINAL note, no ORIGINAL mortgage. They broke into my house, changed the locks and put a padlock on the door even before we had a hearing!!! Entered my home and made inspections and left notes on my kitchen counter. I took a saw to that padlock, put on new locks and sent the old padlock to the “restoration” company that placed them there. SCUMBAGS, all of them…and this is all being done through the STERN law firm who is continuing the foreclosure.

      • lvent says:

        Great Job Bobbi putting the screws to them…..Chase are very deceptive scumbags…They were involved in the Origination Fraud from our original purchase of our home….The fraud is similar to what they did with WA MU…they aquired the Originator, MARGARETTEN MORTGAGE in a 1994 purchase but called it a merger on the release of mortgage…an attorney told me that CHASE did not merge with them, they BOUGHT MARGARETTEN..CHASE released the Mortgage to myself, my husband and our heirs in 2000 when we refied..and get this, in an affadavit…CHASE AND FIRST MIDWEST BANK BOTH CLAIM TO HAVE OWNED MY LOAN IN 2000….no assignment ever recorded transferring the loan to CHASE by MARGARETTEN…. MARGARETTEN does not even appear on the title search that was done for us by an attorney… and there is no assignment on my Public Record by MARGARETTEN TO ANYONE……. at all……JUST A WARRANTY DEED CONVEYED TO US FROM THE HOME BUILDER AND A MARGARETTEN MORTGAGE……….I found out that LO AND BEHOLD…MARGARETTEN is still doing business as MARGARETTEN MORTGAGE as well….MASSIVE DECEPTION..! I WANT MY PAID OFF ORIGINAL MORTGAGE AND NOTE FROM MARGARETTEN…I BELIEVE THAT MARGARETTEN WAS CHICAGO TITLE AND TRUST IN DISGUISE…WHO CHASE ALSO OWNS VIA PROXY…THEY ARE ALL DIRTY BASTARDS..AND WERE .TRYING TO HIDE THE ORIGINATION FRAUD…I HAVE EVIDENCE TO BELIEVE THAT CHICAGO TITLE AND TRUST ARE WHO WROTE IN A NEW PIN# IN 2000 AFTER RECORDING THE RELEASE OF MORTGAGE IN 2000 AND COMMITTED FORGERY ON MY DEED TO HIDE THE ORIGINATION FRAUD BY MARGARETTEN WHO WERE ACTUALLY CHICAGO TITLE AND TRUST WHO WERE ACTUALLY CHASE…! I DON’T THINK THE REAL ESTATE ATTORNEY WHO SENT ME THE ORIGINAL DEED STAMPED PAID DID IT…. MARGARETTEN, CHICAGO TITLE AND TRUST AND CHASE WERE REALLY ONE ONGOING CRIMINAL ENTERPRISE, POSING AS DIFFERENT ENTITIES TO PULL AND HIDE THE ORIGINATION FRAUD…, AND THAT INCLUDES FANNIE MAE..and I have evidence that the HOME BUILDER WAS ALL IN ON THE FRAUD AS WELL…!!

      • Bobbi….On my daughter’s copies of the filings of foreclosure…( bank had to refile with more documents) both copies state JP Morgan Chase Bank National Association…as Plaintiff….In Florida…..Was WAMU the originator at the closing ? If that is the case than I know quite abit of what has gone on with the ‘ purchase ‘ of WAMU to Chase……But the mill handeling this case is not Stern… this foreclosure was cut and dry as there were no affidavits…nothing…just copies of the original note and mortgage…same as what was given at closing….and Chase to0k almost 10 months to answer the Request to Produce…and all 21+ requests were ” OBJECTED ‘…they sent nothing…I know they have nothing….WAMU left no trail of the frauds…and we have letters from Chase saying they are only the servicer, that’s it, and to send them the payments…. They have no note…cause on the second filing in court…I compared both copies…and the Note was copied from a different note as in first filing. …the second has the stamped endorsement without recourse and signed by someone at WAMU as a VP…..the note was cashed and destroyed…..and Chase does not have the original mortgage either…they have shit if it came from WAMU…..but with another bank I cannot say….let me know if you had WAMU at closing……

      • Bobbi Swann says:

        @ Marilyn – In reference to your question on whether WAMU was the lender at closing – No. Actually the lender was the broker that I work for. He had (past tense) a line of credit with a wholesale lender and then supposedly sold it @ closing to JP Morgan Chase but it was Chase Home Finance that brought the foreclosure. My copy of the Note that was sent to me on a Motion to Produce does show the endorsement but it says Pay to the order of JP Morgan Chase Bank NA by (some guy) as Ass’t Secretary for Landmark Mortgage (that’s my broker). Problem is, this man’s name is not associated whatsoever with Landmark Mortgage and definitely not an assistant secretary. Also, signature for Landmark was not done in front of a notary (as required by Florida law) and my boss won’t step forward….he’s afraid of consequences…and I know of no other way to prove it. It’s all such a mess….I literally live day by day. All this almosts chokes the life out of you.

      • Bobbi Swann says:

        Oh and Marilyn the loan was then sold to Fannie Mae. I have a letter from Fannie Mae stating that they own my loan but no assignment from JP Morgan Chase Bank NA to Fannie Mae appears anywhere on record…..

  5. Fred Gandy says:

    Disgusting. How much more can people take? Let’s review by going back a decade or so, when the GSEs turned from housing agencies into Wall Street controlled weapons systems:
    They lobbied to destroy regulation, designed the MERS “forceclosure” system, underwote predatory loan sharking by changing laws to protect themselves, then sent goons into court houses across the land to lie in court and steal back houses to keep the scheme going until the whole economy blew up.
    After all the damage and destroyed lives, with many more fraudclosures awaiting completion, the sons of bitches have the gall to scalp even more payola. People, this Government/Banking system is at war with you, if you haven’t noticed.

    • Fred….The ‘ oldies ‘ around here on this site have had some years behind us fighting this….and we all saw what was ahead….and long realized it would be a nasty scene in the streets…first peaceful…than….I guess the flip of the coin…..everything seemed to be against us….but now I feel the tide has turned….many others ‘ in the know ‘ have come on board and all seems to be getting stronger in our favor…..positive thinking…we are winning….and those in all the government going back at least 30 years have allowed this to happen….treason and tyranny….expect us…… took Rome years to plan this….so it will take some time to put the evil in their own fires of hell.

      • lvent says:

        Marilyn, where has Rob been? Maybe I have just missed him on here..I have been busy working on my latest motion to dismiss…I filed it downtown today…My son said their was a young man downtown holding up a sign that he is on a hunger strike…My son told me that his buddy works at the Chicago Board of Trade, he is a runner..and he was interviewed by the media while leaving there the other day…They asked him what he thinks of the protests…He said those protestors are great people and they are all o.k. with him…Time to March on D.C…The State Capitals, the state houses, and all of the mayors offices…Major Cities as well as local..they are all going along with the tyranny…and doing not one thing for Mainstreet or struggling homeowners..Law enforcement either…We need to call out the States Attorneys, the DOJ, the AG’s and most of all OUR COUNTY SHERIFFS….OUR COUNTY SHERIFFS COULD STOP FRAUDLCLOSURES IF THEY WANTED TO…THEY HAVE THE POWER TO DO THAT..

      • Ivent…I believe Rob said back in October he was going to New York around like Oct. 27 to Nov. 15th….I know a few days ago he replied to me a short comment…he did sound a bit depressed ( to me anyways ) .I can understand if he is……Maybe he wasn’t depressed as I thought…that was about the time he was leaving for New York…he has family there. I was thinking of you pouring the coals to that paper work…with a deadline to meet…..this all is so unnecessary what we all are going through….it hurts me so to think our country was handed over to the evil bastards…..and the lies that covered the governments tracks…..I burn so deeply …it has consumed my life everyday……it’s like line them up and let the people give them what they deserve….that inclues everyone one in government (now and back 30 years) and the financial industry…I am not depressed…I am pissed beyond words…

      • lvent says:

        Marilyn, I hate all of the dirty bastards to. Did you see Obama is in Cannes meeting with the G-8 on their next move….I wish he would stay there and never come back..He is a traitor..I guess the White House is about to get subpoenaed over Solyndra…What a disgrace all of these politicians are..This has been a nightmare for all of doubt in my mind this was all designed to make us all drop dead from stress! We are alot stronger than they thought…having everything you worked for your whole life does that to a person…it puts your mind in overdrive..You are right Marilyn, I have been working diligently on my motion…I pray it works..I am sick and tired of it all but I will never give up!….My next move is a trip to the Sheriff’s Dept. with all of my evidence…I want them to tell me what I have uncovered here is not Felony Forgery!….Max Keiser was talking about the fraudclosures today on his show…and about how they are stealing homes they have no right to take…and the fact that they were all fraudulently induced loans…Max and Stacey are my favorite..They rip them all to shreds! Just what they all deserve…I hope Rob’s trip to NY cheers him up. We have all had our moments and bouts of depression and frustration but we have to remember, that is what they break us financially, emotionally, mentally and spiritually and…physically…I am with you Marilyn, I am just mad as hell and I want to see all of these crooks held accountable…Starting with the Politicians who allowed this…They will all have hell to pay for what they did…the American people will never lay down for this NWO global tyranny..they are all going to get kicked out by the American People…their day of reckoning is coming..the Politicians have shit on the 99% and they are all going to pay…!

      • I vent……I would not want to be any politician that gets into the hands of a few angry people….only DNA would ID them….some seem ready to rip the limbs off of the body…..and so many guys work out and have muscle power…and are foaming at the mouth….and no one can blame them….and this anger builds up to the explosive stage….I wonder if these politicians ever thought that this could happen to them….we never thought this could happen to us and it did……..
        If they think we will weaken and the stress will kill us….they have another guess coming….each day they are feeding the anger more and it will come to them….when they least expect it….there are more people on the outside than there is on the inside….they are out numbered by far.
        I agree and have said it before…March on Washington DC….they are the culprits that have worked with the enemy for years…Washington DC is our enemy….that is where the people need to be….that is the seed that Rome has planted to destroy this country…they have all been bought and paid for….we need to make sure they never enjoy their wealth….they are the ones who allowed our wealth to be taken from this country and banked overseas….they are all bastards. And you say Obama is in Cannes meeting with G-8……WAKE UP AMERICA….Obama is doing his dirty work again….this man needs to be impeached and the people be the jury…he is nothing but trouble to all of us….when is enough enough………..

      • I vent…..I googled the G-8….and it was alot of the global food industry and countries needing food…and further on it mentioned nuclear weapons and what country had them…2 germans invented the nuclear and the U. S. developed it….and according to what it said the U. S. was the only country to ever use it…Nuclear use causes massive destruction to highly populated cities and countries….radiation exposure….and said the U. S. has it stock piled…..the 8 stands for 8 countries as members and the number changes as a country is now it is 8 + 5 countries that excepted an invitation to a meeting….but the nuclear stock pile did not set well with me…and the underground tunnels they have built for survival…..I just fined it strange Obama would invite the G-8 here next spring to meet in CHICAGO….why would they meet in a city so corrupt….Obama has this thing with corruption that he cannot shake from his thinking…it must be like his security blanket………but we must think like the criminals…..not do as they say……..the people know who we cannot trust at all…….but we are blessed to have so many good people on our side….and more keep coming….it is our security blanket ..and I know I am so greatfull for everyone of them …..true Americans …..true patriot’s……

  6. Boy! These good ol’ boys sure are spoiled to the core! Rotten beyond words to describe it.

  7. lies is all they tell says:

    i think alot of us just sick and tired

  8. Ron Moss says:

    This sounds a little prejudice

  9. keepon says:

    ARROGANCE. Unmitigated ARROGANCE. Without rebuke.

    The ‘I got mine, now go get yours’ part of the hiring profile must be exterminated!

    I have Granchildren that need to grow up here!

    WHY are they allowed to get away with this? Theft in broad daylight and NO ONE will stop them? Why aren’t the Zuccotti Cops HERE?

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