New guidelines on cost reduction for all mortgage related Government Sponsored Entities with subprime losses

From one of my readers:
It's not a news story; it's something I witnessed personally.  Freddie Mac lost $2B last quarter and plans to lose another $2B next quarter on $9B in revenue (20% losses).  To celebrate, they threw a decadent holiday party at the Ritz Carlton in exclusive McLean, VA.  They had a laser printer that printed pictures on chocolate lollipops for the kids, hors d'oeuvres, entertainment.  You'd think it was the Goldman Sachs partners dinner.  Alas, it was a Government Sponsored Enterprise pissing away money right before they're going to need a taxpayer bailout.

Editor's note: I know sometimes you need to motivate the troops, but this does look rather awkward considering the current state of affairs. Maybe its time to start cutting back on the chocolate lollipop laser printers???

Comments

[Mark]

Reggie,

Please don't get arrested for spying on Freddie Mac. We all enjoy the blog too much to have you locked up.

:-)

[zaleriana]

C'mon, that has to be the worst Ritz-Carlton in the world. And it's in not-at-all exclusive Tyson's Corner (practically in the mall), not McLean.

[Stop Foreclosure]

yes, this blog is too nice to have you locked up. Freddie and Fannie have already been in trouble, not you.

[Stop Foreclosure]

yes, this blog is too nice to have you locked up. Freddie and Fannie have already been in trouble, not you.

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They had a laser printer that printed pictures on chocolate lollipops for the kids, hors d'oeuvres, entertainment. You'd think it was the Goldman Sachs partners dinner.

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They had a laser printer that printed pictures on chocolate lollipops for the kids, hors d'oeuvres, entertainment. You'd think it was the Goldman Sachs partners dinner.