Media overplay AIG retreat accusations; ignore Freddie and Fannie

By Edward Barrera on October 8, 2008 9:43 AM | |

Jeff Poor: "Largely ignored by the media were the abuses of former executives of Fannie Mae and Freddie Mac. Fannie's former CEO, Franklin Raines, a former Clinton budget director and adviser to Obama, was embroiled in an accounting scandal involving changing his own pay procedures for higher compensation.

 

     Also overlooked by the media in the wake of the Fannie and Freddie bailout, as pointed out in an Oct. 7 column by Media Research Center president Brent Bozell, was former Fannie Mae CEO Daniel Mudd. Mudd received $13.4 million, plus $5.4 million in stock awards in 2007, despite the Fannie's heavy losses and eventual bailout."

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Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.

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Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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This page contains a single entry by Edward Barrera published on October 8, 2008 9:43 AM.

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