The Depressionest Guys in the Room
Ousted Fannie Mae and Freddie Mac CEOs Daniel Mudd and Richard Syron are expected to pocket as much as $50M in severance pay -- for running Fannie and Freddie, the too big to fail ($5.3T outstanding MBS debt) government sponsored entities that sustain liquidity in the U.S mortgage market, so far into the ground the U.S. Treasury had to take action, defining a Federal conservatorship and paving the way for ultimate public/private reorganization.
During their tenures since 2003, Mudd and Syron have separately received at least $38M in compensation.
But then I'm sure the movie (hint, hint) will supply even more gory, inside details...
And Republicans call this shit Free Market Capitalism?! Try crony capitalism and trickle-down capitalism!
Frankly, at this point, wouldn't Socialism be more cost effective?
Why not, for example, nationalize energy exploration, production and distribution? How about nationalizing health care? I mean, if we taxpayers must bail out morally, now financially, bankrupt Wall Street over and over and over again, then we at least deserve the opportunity to reorganize a few firms that can a.) benefit our society and b.) turn a profit!