Monday, November 7, 2011

Quote of the Day

"Here we go again. They are coming back to Congress with their hands out, demanding billions more for yet another taxpayer bailout. To add insult to injury, their top executives are getting millions in bonus checks. 

It's another story tailor made for the Occupy Wall Street movement, but there is silence from Zuccotti Park. We have not heard a peep from Obama, and not one media elite is in high dudgeon. Why not? Because this isn't a story about big banks, but rather about big government. 

The government housing behemoths Fannie Mae and Freddie Mac have already taken more than $160 billion in taxpayer bailouts. Last week, Freddie Mac announced it needed another $6 billion after it lost more than $4 billion in the last quarter. 

Yet, unbelievably, the agencies are paying out $13 million in bonuses to top executives who already make hefty salaries. Some of them will take home seven figure checks for losing billions of your hard-earned tax dollars! Where is the outrage from the left about this abuse of taxpayer resources?" 

Gary Bauer
Campaign for Working Families