Reply #194: Have YOU read Kucinich's words yourself? [View All]

[sabrina 1]

As Chairman of the Domestic Policy Subcommittee of the Committee on Oversight and Government Reform, I’m announcing that the Subcommittee will launch an investigation into the Treasury Department’s recent decision to lift the current $400-billion cap on combined federal assistance to Fannie Mae and Freddie Mac, opening the way for additional, unlimited funds through the end of 2012. This investigation will include the role played by Fannie Mae chief executive Michael J. Williams and Freddie Mac chief executive Charles E. Haldeman in the decision, if any, and will seek to ensure that the additional assistance is used for homeowners and not Wall Street.

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As a result of a curiously-timed Christmas Eve announcement by the Treasury Department, the mortgage giants will have access to unlimited funds without having to come back to Congress. Since the federal government is the majority owner of both companies, their operations will remain under Administration control.

This relationship between Treasury and Fannie and Freddie bears inspection, particularly in the wake of reports that the mortgage giants' chief executives will now receive $900,000 each in annual compensation, bonuses of up to $6 million each, and an additional $42 million in special compensation will be spread among a dozen other executives.

And you want this covered up, no oversight of tax dollars by Congress? He deserves answers to these questions, on our behalf. This is how we got into the situation we are in the first place, no oversight. Good for Kucinich and I hope other Democrats will join him.

And btw, since this so recent, this action by the Treasury Dept. headed by a man we can all trust to work on our behalf :sarcasm: where is the mention of Rahm Emanuel? Was he involved in this decision? I can't find anything to say he was. Weren't we told the as COS Rahm would not be involved in policy decisions? So why all the hysteria over Rahm who appears to have nothing to do with this?