Glenwood Springs, CO Colorado
2009 Christmas Eve announcement (while sugar-plums were dancing thru our heads): The Obama administration decided to cover an unlimited amount of losses to Fannie Mae and Freddie Mac over the next three years.
The Treasury announced Thursday it was removing the caps that limited the amount of available capital to the companies to $200 billion each and give unlimited access to bailout funds through 2012. (General public take note: Fannie and Freddie purchase or guarantee home mortgages and have run up huge losses stemming from the worst wave of defaults since the 1930s.) So far, Treasury has profited $60 billion of capital to Fannie, $51 billion to Freddie.
The companies disclosed new packages that were approved by the Treasury and FHFA. Keep in mind the administration approved compensation without settling on a plan to remove taxpayer support. With unemployment near 10 percent, handing out $6 million bonuses to essentially federal employees is unconscionable.
Rest of the package: Fannie will pay annually: $3.6 million to chief financial officer; $2.4 million to a unit that finances apartment buildings; $2.8 million to capital market chief; $2.2 million to deputy chief financial officer; $3 million to general counsel; and $2.8 million to chief risk officer; and Freddie: $4.5 million to chief operating officer; $3.5 million to chief financial officer; $2.8 million to general counsel; and $2.7 million to head of human resources.
Seems like a lot of chiefs.
Congressman John Salazar told the group of protesters outside the Wheeler Opera House a couple of weeks ago that “he would not sponsor any wilderness bill unless 100 percent of all users groups were on board,” not 80, not 95, not just mountain bikers or climbers, all users groups.
Wilderness Workshop needs to get their carving tool out and whittle this proposal down to a reasonable size – oh, say, the Forest Service-recommended 82,000 acres that “everyone” can live with.
This proposal has nothing to do with the land or our furry little friends but everything to do with extreme left-wing liberal extension of big government and regulation.
Wilderness Workshop has made no effort to engage the motorized community. This is your proposal, it is your job to engage all users and fully vet all your areas with “everyone.”
‘Twas the night of Christmas and all through the house, not a creature was stirring, not even a mouse? Was this the work of Nostradamus? Did he know that the “mouse” would be the most important part of our lives someday? Here I am on Christmas Day playing on the computer, when I notice I am distracted by a pink ribbon. After a moment of reflection I realized that this ribbon has an enormous effect on Christmas.
While there are many faces to cancer none of them are happy.
Support Local Journalism
Support Local Journalism
Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Each donation will be used exclusively for the development and creation of increased news coverage.