Use access key #2 to skip to page content.

More Mudd...



August 20, 2008 – Comments (4) | RELATED TICKERS: FNMA , FMCC

So today, Fannie CEO Daniel Mudd was on WAMU's Diane Rehm show. I didn't hear it. My wife listened, and was absolutely irate when I got home. She was pretty amazed at the way he dodged questions, turned other people's words around (then pretented to agree with what he said they'd just said), and she loved the way he didn't want to admit how much dough he's been making by presiding over a collapsing Ponzi scheme.

She's got steam coming out of her ears as she says "He kept saying, 'We're a private company operating for the public good.' Aaarght"

She, of course, knows that's absolute BS, because she reads the papers, and she knows how Paulson and Mudd cooked up the explicit taxpayer guarantee in order to try and pump Fannie Stock long enough to sell more to some suckers. Of course, no suckers have showed up yet.

If you want to hear it, the links are below:

Real Audio Windows Media

If you want to know what Mudd made (and didn't admit making), you can see that below, from the 2007 proxy.

Fannie comp 

Full Size 

I gotta believe his job is on the chopping block once the Feds take over. Both his and Cylon's. 

4 Comments – Post Your Own

#1) On August 20, 2008 at 10:49 PM, TDRH (96.58) wrote:

Nope, they will probably keep him on as a consultant and pay him more, or give him some type of golden parachute, or maybe I should call it an ejection seat.  

Report this comment
#2) On August 20, 2008 at 11:45 PM, Tastylunch (28.61) wrote:

I wish I hadn't listened to that, that was bad for my blood pressure.

Report this comment
#3) On August 21, 2008 at 11:58 AM, lollard (99.78) wrote:

I tuned out about halfway through the interview. Mudd's tone of barely veiled hostility and unveiled condescension reminded me of no one so much as Dick Cheney. 

Report this comment
#4) On August 21, 2008 at 8:06 PM, dexion10 (27.11) wrote:

very funny bent ... very funny.


Report this comment

Featured Broker Partners