Bailout Outrage

" The bailout of Fannie Mae and Freddie Mac cost taxpayers you and me hundreds of billions of dollars. Well now there's word that a chunk of that money is going for legal fees to defend the shady actions of some of the top executives of those organizations. They were sued by the government accused of taking more than a hundred million dollars in bonuses that they didn't deserve. And when they left the company Fannie Mae was supposed to cover their legal costs well. Those bills are now yours and mine to pay and they totaled more than six million dollars. This story part of the daily outrage feature in the Washington examiner JP prayer is what the paper and joins us now OK so. This just has so many levels of irony the government sued them our government our our you don't do we pay taxes. -- them to try to collect these bonuses back. They get defended by six billion dollars worth of lawyers and we paper that you."

" Right exactly and the thing that is even more confusing is that it was a government subsidized entity to begin with -- is that the only thing that changed was that. The government -- took over Fannie and Freddie and so as result they're now picking up the tab for what the company was originally going to be paying. That means that taxpayer money even more taxpayer money is going into the situation which is ridiculous how it wouldn't feel so bad if we got back -- hundred million dollars worth of bonuses are any progress on that front. I -- no -- EDT where pilgrims are continuing to pile up their continue to pile up and so. As a result the taxpayers are actually getting screwed even more and who are we talking about here in particular Fannie Mae and Freddie Mac. All others that is Franklin Raines his AF familiar name as well -- his whole cadre of leaders that Fannie and and they. And that the whole problem is that these people were churning the results they are making the results look a lot more positive. That waiting to get even more money out of the bonuses and it and they're not being held to account to any degree instead of course -- wondering what they're getting paid for and we wonder why the housing market collapsed."

" All right and then there's are good -- letter carrier. I like my letter carrier good guy but -- you found some interesting abuses in the daily outrage at the."

" The Postal Service. Right well more than a million dollars a week according to two what I have here more than a million dollars a week. Is being spent having a letter carriers and postal workers sit and do nothing. This is a consequence of of of mail not going out as much not many people are you are using now as much. And and the problem there is that. They have all these employees and they can't just fire them because of pretty strict union rules. So the only thing they can do is put them on what is called standby time which they place them in. Small rooms sometimes something even like a closet. Where the district sit around and can't really do anything because they're not allowed. To do anything they would otherwise be able to do during work. That means they can't read they can even read a training manual because that's different that's training time they can't they can't use standby time as training time. So millions of dollars being used for this and that's 45000. Hours every week. That's about equal to 1125. Workers standing idle that costs about fifty million dollars a year. Or to the American taxpayer and they can't send them to some other post office across town or across the country because the union rules won't allow them. Wealthy they they're trying to figure out ways in which they can move these jobs around but the thing is that that's a lot fault here and it. Really the point is is that they have too many workers may have nothing nothing for them to do. Why don't they -- some of them off that's what private enterprises doing these days. Well unfortunately it doesn't seem that unions are very fond of how private enterprise would normally respond to these these issues instead of -- they're trying to negotiate -- Just more flexibility for that for management but the Postal Service hasn't been able to get them to -- Think about that the next time you buy those 44 cent stamps. -- for air from the Washington examiner. Thank you thanks I think."