They protect their own

Who's greener than bankers?

Freddie Mac executive Anthony Renzi, who ran GMAC Mortgage into the ground before hiding out with his federal friends for two years has now left Freddie for a new job with his private sector banking pals. With a proven track record of failure, why shouldn’t he be rewarded?

Before joining Freddie, Mr. Renzi served as the operating chief of GMAC Residential Capital, a unit of Ally Financial Inc. He was initially hired by Freddie to oversee the company’s mortgage-servicing operations.

Mr. Haldeman said in an interview that Mr. Renzi’s departure shows that Freddie Mac employees remain “sought after” in the broader housing-finance industry. “I very much appreciate the contribution he’s made, and I’m delighted for him,” he said.

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2 responses to “They protect their own

  1. 60 Minutes did a piece years ago about the same disability scam in Italy. They visited one little village for the story where a third of the adults were receiving payments for assorted disabilities, including the legally blind village bus driver.