Heres A Nice Pension - Hows Yours?

ojxux

Member
Jan 10, 2004
86
0
From the AP:

WASHINGTON (AP) — Franklin Raines, who was forced out as Fannie Mae's chief executive after five years, is slated to receive a monthly pension of more than $114,000 for life, according to documents the mortgage lending giant filed Monday with the Securities and Exchange Commission.

The documents also reveal that Raines has deferred compensation of $8.7 million to be paid out through 2020 and owns more than $5.5 million in Fannie Mae's stock.

Federal regulators have asked Fannie Mae to hold off paying out any compensation to Raines until they have time to investigate the package, and whether it was appropriate for the federally chartered lender to let Raines retire early rather than be dismissed.



And you shiftless lazy union people steal from the company by calling in sick one day and then demand a pension, while poor people like Mr Raines, Kenny Boy Lay, Wolf, Dave S. and other poor executives are forced to survive on a measly 1-2 million dollars a year after they have been fired (resigned). Have some heart people and give to the cause.
 
I can see it now around the board room.

First order of business, all in favor of retirement package for life with deferred compensation say I..... " I".

Second order of business, all in favor of doing away with the employee's pension to save money say I...."I".

I'm just joking but I bet its not far off from the truth.