Wise Startup Blog

In yet another example of incompetency by the White House, and in the middle of one of the biggest meltdowns of the US financial industry, we have gargantuan salaries for the former CEOs of Freddie and Fannie.

Worth More Dead than Alive

In 2007, pulling in “a $1.2 million salary, a $3.45 million bonus, including $1.25 million to remain at the company, and $771,585 in other compensation” the CEO of Freddie Mac Richard Syron was in a better position if his company went under than if he stayed around.

This isn’t including the ridiculous $14 million in options awarded last year either, so with the options worth pretty-much nothing, Syron gets bailed out by the federal government taxpayers and gets a lofty $9 million in deferred pay, retirement benefits for a job 1) not completed and 2) so poorly executed that the entire economy is failing because of it.

Bush, Stand Up for the Little Guy

We all know the Republicans now loathe Bush and only mention his name when he appears via the telescreen at the RNC.

So why not take a stand for the little guy? Remember him? The guy you pretend you are, when you’re not hiding the fact you’re a rich kid living off of Daddy’s money and influence?

Tell the Treasury Secretary he needs to take back Syron’s compensation package, and invest it back into the company or give it back to the taxpayers (that rebate check really was a great idea, no kidding).

As one of the most unpopular presidents ever, this is your chance to stand up for the little guy and take a stand. Nobody likes these huge CEOs, so this is your chance to seem like your Presidency means something, and it’s a relatively easy battle to win.

For the Rest of Us…

What are you doing with your money in the bank? Hopefully by now you’ve read about how to become your own bank, via home equity maximization.

Taking your equity out of your home and putting it into a secure, retirement account that gives you control of your money and you’re not subject to the ridiculous financial situation Frannie and Freddie and their CEOs have gotten us into.