And there's nothing you can do about it!

Santa Comes A Day Early for Fannie Mae, Freddie Mac

Orin Kerr • December 24, 2009 10:27 pm

The Washington Post reports:

(bold is mine)

The Obama administration pledged Thursday to provide unlimited financial assistance to mortgage giants Fannie Mae and Freddie Mac, an eleventh-hour move that allows the government to exceed the current $400 billion cap on emergency aid without seeking permission from a bailout-weary Congress.

The Christmas Eve announcement by the Treasury Department means that it can continue to run the companies, which were seized last year, as arms of the government for the rest of President Obama’s current term.

But even as the administration was making this open-ended financial commitment, Fannie Mae and Freddie Mac disclosed that they had received approval from their federal regulator to pay $42 million in Wall Street-style compensation packages to 12 top executives for 2009.

Ha ha. Ohhhh, lord. Yes, pay them the bonuses for 2009, they're well deserved. Meanwhile, the federal government continues to throw your hard-earned money down the shithole. Keep voting for Democrats.

I mean I'd say "call your congressman," but we see where that got us with the bailouts, health care, immigration, etc. It's as if they don't give one flying damn WHAT you want. Hard to believe, huh comrades?

Thanks to Wombat for bringing this to my attention.