Incredibly, somebody in a bubble thinks a bonus is a good idea, no joke. Together, federally seized Freddie Mac and Fannie Mae have so far cost $169 billion in taxpayer rescue dollars in support since their takeover in 2008. And the GSE losses continue to accelerate. Bonus time!

“Taxpayers have spent about $169 billion to rescue Fannie and Freddie, the most expensive bailout of the 2008 financial crisis. The government estimates that figure could reach up $220 billion to support the companies through 2014 after subtracting dividend payments…Michael Williams, Fannie’s president and CEO, said Fannie’s losses are increasing for two reasons: Some homeowners are paying less interest after refinancing at historically low mortgage rates; others are defaulting on their mortgages. ‘Despite these challenges, we are making solid progress,’ he said.”

Awesome. “Solid progress.” Somebody in charge deserves a bonus. How about $12.8 Million? Is that really enough? Incredible. Click on the image for the sad story. Well, sad perhaps for those outside that particular government bubble.

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