Comments on: Taxpayer funded signing bonus at Freddie Mac?

By: Ross J Kari

Ross J Kari — Sat, 20 Feb 2010 14:08:53 +0000

Are you guys talking about me? Don’t worry about my conpensation, I will be gone in 10 months or so just like I did at FITB with my golden parachute. I don’t give a damn about Freddie Mac or tax payers. Thanks for your comments. I am applying for a job at Goldman Sachs. I believe they are the only bank in this world who can understand my talents, desires and needs. So Long, Ciao.

By: James

James — Mon, 28 Dec 2009 19:42:26 +0000

I guess we have no one to blame for the $1.9 million bonus but ourselves. We elected the morons that run our government then take a wait and see attitude rather than let them know every time they screw up that we will not tolerate their actions or lack thereof.

By: Robert

Robert — Mon, 28 Dec 2009 17:54:03 +0000

One must wonder, what makes these individuals so doggone special. This is only an organization…he leads people (or should) who bring him background papers, research, recommendations, and ideas. All the CEO does is choose which road to take. The CEOs are generalists. It’s not that they are decoding the answers to the universe. I can’t be convinced that they are worth the bucks that they get. They have simply constructed a living myth that they are “indespensible.” Look at Timmy G. (our tax avoiding Secretary of the Treasury). If we didn’t hire him, and only him, our whole country was going down in a blaze. Only SUPER G could save us from ourselves. “Meet the new boss, same as the old boss.” Have a Happy New Year, whoever may read this.

By: Kevin Gary

Kevin Gary — Thu, 17 Dec 2009 01:47:54 +0000

It appears that Mr. Kari has had 6 jobs in the last eight years, going back to his brief tenure as Wells Fargo’s CFO in 2001. Since that time, he has had positions at Safeco, MyCFO, Federal Home Loan Bank of San Francisco, Fifth Third Bank, and now Freddie Mac. Where I come from, that kind of job history is a red flag. Who’s to say Mr. Kari won’t bail when a better offer comes his way? Where is the FHA and congressional oversight on how senior managers are selected? Statistics show that Mr. Kari’s compensation package is out of line, even compared to large financial institutions. Freddie Mac’s bailout preceeded TARP, so they are not subject ot executive pay restrictions. Where’s the new Federal pay Czar?

I’ve worked for a large bank before and I now work for a small community bank. I see every day how the system is rigged in the favor of the big guy and for Wall Street.

By: RICHARD

RICHARD — Wed, 30 Sep 2009 18:23:46 +0000

W says
“I am so tired of people who know very little about financial services complaining about ‘excessive’ this and ‘excessive’ that. ”

so that makes it O.K. for the government to support an industry via my taxes and I’m not allowed to complain as I know little about financial services. We used to have a saying that he who pays the piper calls the tune. In my case the tune is not to pay excessive compensation with my hard earned taxes. I don’t care what the rate for a CFO is but if I’m having to pay without any say in the amount then a dollar is too much.

By: RCharles

RCharles — Mon, 28 Sep 2009 10:16:59 +0000

W writes: “… As long as someone is willing to pay a salary and receive the other’s time and talent that is what the market going rate for a CFO is.”

The point of this discussion is that the taxpayer is NOT willing to pay excessive salaries to financial executives. We don’t have direct control but we are the stuckee’s who have to cover the costs and don’t see any benefits commensurate with the costs.

I support President Obama and, if you haven’t notice, the G20 nations in establishing some limits to financial executive compensation.

RCharles

By: Richard Wicks

Richard Wicks — Mon, 28 Sep 2009 07:50:42 +0000

I had to read this from “W”

“Funny how people would say that somebody else’s Salary is ‘excessive’.”

Simple, taxpayers are paying for this. Fannie Mae isn’t making money, they are taking money from people like me, using the government who will most happily put me in prison, if I don’t hand over the cash for them to do it.

I don’t care what people in the PRIVATE sector get paid, as long as I am not responsible at all for any of their poor stupid decisions, like having to pay 10 grand to bail their asses out when they screw up.

By: Michelle Leder

Michelle Leder — Sat, 26 Sep 2009 15:49:27 +0000

@W So you think it’s perfectly OK for an entity essentially propped up by the government to hand out a nearly $2 million signing bonus? How would you have reacted if instead of giving that to Kari, they had given the signing bonus to Hillary Clinton when she signed on as Secretary of State?

By: Martin

Martin — Sat, 26 Sep 2009 13:11:12 +0000

When will the people erect a guillotine on Time Square I wonder… ??

By: W

Sat, 26 Sep 2009 01:15:30 +0000

Funny how people would say that somebody else’s Salary is ‘excessive’. As long as someone is willing to pay a salary and receive the other’s time and talent that is what the market going rate for a CFO is.

With regards FITB, no the stock has not been immune to the economic pressures that has befallen the financial services industry. If you compare FITB to an index such as the KBW index of regional banks, FITB performed well compared to its peers.

I am so tired of people who know very little about financial services complaining about ‘excessive’ this and ‘excessive’ that.

The only thing that has been ‘excessive’ is the government intervention and involvement in the industry.