Fannie Mae Execs Wine, Dine & Golf After Bailout

From the “Complete Chutzpuh” department:

DALLAS (CBS 11 News) ― The Cowboys Golf Course in Grapevine is an exceptional place to play. Hitting driver there is a dream for many local golfers.

The plush rolling fairways and smooth greens can command one of the highest fees for a public course in all of North Texas. But it seems cost was no barrier for some high ranking executives from the Fannie Mae office in Dallas, which is located just off the North Dallas Tollway.

Documents obtained by CBS 11 show at least 14 people in a recent Fannie Mae outing teed off at Cowboys at 1:30 p.m. on September 29 — 22 days after the federal government took over Fannie to save the massive mortgage company from failure. The taxpayers tab for the golf outing was $6,279.26.

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.

You can access the complete article on-line here:

Fannie Mae Execs Wine, Dine & Golf After Bailout
Doug Dunbar
CBS 11 News
November 3, 2008


One Response

  1. And now the banks are hoarding the bailout money instead of lending like they were supposed to…this is the only time when I agree with a senator who said “someone should be going to jail”!

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