Taxpayers Foot Post-Bailout Golf For Fannie Mae
By Kickntrue on 11/6/08
God Bless America! An investigative report by a news station in Dallas found over $6k spent on a Fannie Mae golf outing two weeks after the government bailed them out. That means anything Fannie Mae spends money on from this point on is OUR money.
According to this receipt, Fannie paid for 20 golfers. The 14 listed on the tee sheet included three Fannie executives from Dallas, two Fannie execs from Chicago and one from Washington, DC. The cost for golf alone was $3,316.

According to the contract, golfing included a mango towel service. The contract also shows additional guests joined the golfers for dinner where they dined on over $1,700 worth of buffet food.

Then came the bar tab. According to this receipt, they drank 49 bottles or cans of domestic beer, five Grey Goose vodkas, six Absolute vodkas, some Tanqueray, and 31 glasses of the house red wine. The total bar tab was $555.
The most impressive thing may be the alcohol bill. 20 golfers- you figure at least 2 people didn't drink. So let's say there were 18 drinkers- consuming... 93 drinks for a total of over 5 drinks per person. I'm not sure if I'm glad or outraged that us taxpayers DIDN'T pay for designated drivers home.

There was no report on their scores.

Our Money Wasted

[ comments ]
komega19 says:
What a joke! And I bet ol' Barney Frank was right there with the crooks!
kidputter says:
Can the government give MY company money so I can play golf in a tournament? What a travesty!
Josh says:
Man this is absolutely infuriating, Those jokers should have federal prosecutors following them around wherever they go. Everyone who thinks Enron was bad... This is by far and away the biggest financial heist in US history and it's being ignored.
blue_crush says:
the bar tab shows it was about 28.00 per person, at a local muni that would have been about 5 drinks each, but at a country club a glass of red wine or drink can cost as much as 14.00 so that would only be like 2 drinks... either way the whole thing sucks and we are picking up there bill...
golfgirl says:
The bailout was agreed upon without any commitment from the banks and companies about what they had to use the money for. It was just... "we're hoping they'll use it to free up the frozen credit situation and start lending again". How dumb was that? They should have been obliged by contract to use it for what the government (taxpayers) wanted them to use it for, like happened in Britian. Also the government must realize that these banks and institutions must be constantly very closely supervised. If they're not they will immediately revert to rewarding the top execs and wealthy shareholders with little or now regard for the public who are bailing them out.
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