With the bailout of Freddie Mac and Fannie Mae, the Reagan revolution has at last realized the robber barons’ dream: privatize the profits and socialize the debt. Nicely done, fellas.
— a letter to the editor of The New York Times from Candida Pugh of Oakland, Calif.; Sept. 10; emphasis added.
We now see the compensation wasn’t deserved. I don’t think taxpayers want their money to go to the C.E.O.’s of these very large institutions.
— Sen. Chuck Schumer, D-N.Y., on the exit pay packages of Daniel H. Mudd of Fannie Mae and Richard F. Syron of Freddie Mac who, The Times’ Eric Dash reports, are eligible for as much as $24 million in severance, retirement benefits and deferred compensation; Sept. 10.