I write on sports, politics or whatever I'm thinking about at the time. My posts indicate what I'm thinking about, not necessarily what I actually think, but I do try to make them accurate and informative.
Wednesday, April 8, 2009
Wow! The double standard is deafening!
Okay, I admit, I'm livid about this. Our government gave billions of dollars to Fannie Mae and Freddie Mac to prop up those two companies just because they hold so much of the nation's mortgage debt (the bad stuff). This isn't news to anyone and isn't what I'm livid about. On April 4, the Wall Street Journal reported that Fannie and Freddie are giving out 210 million dollars in bonuses. I have two things to say here. 1. Why aren't we hearing about this very much. Somehow, AIG is evil and it is on every station and in every newspaper for days and the government passes unconstitutional legislation to make themselves look good, but when even more money (45 million more) is paid out to Fannie and Freddie, who arguably had a significantly higher level of responsibility in putting us in the mess we are in now than AIG or even some of the big banks, this doesn't bother us or the media? I think it is inexcusable that we tear apart a private company, but somehow because these companies are federally subsidized, they aren't subject to the same kind of scrutiny, or is it just that it would make Congress and the President look bad and some in the media don't want to do that. After all, it was Chris Matthews who said on the air that it was his job to make sure the Obama presidency succeeded. Oh yeah? You're a journalist, not a rubber stamp, shut up and do your real job. Nonetheless, not really hearing about this issue, are we? 2. Where are the protests! We deplore AIG and its 165 million dollar bonuses, but do absolutely nothing when it comes to Fannie and Freddie and their bonuses? Certainly it isn't because they are right that they need the bonuses to retain quality employees and executives, after all, we all stated that that argument didn't hold water when it came to AIG. It seems that F and F are using this argument as well and nobody seems to care or even notice. Where are the prosecutions, the demands to return the money, the Attorney General of Connecticut naming names and smearing people in the media? Where is all of that? Huh!?
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