By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
The government regulator of Fannie Mae and Freddie Mac said Thursday that million-dollar bonuses paid to executives at the companies were necessary to keep the mortgage giants running.
"We will need expert management of those guarantees for years to come," Mr. DeMarco wrote in the letter to a bipartisan group of 60 senators who have urged him to stop the bonus payouts. "Given the amount of money at risk here, small mistakes can be easily amplified to losses far greater than the compensation paid to enterprise executives."
Mr. DeMarco said the executives were hired after the companies were taken over by the government in 2008.
