• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

An open letter to Freddie and Fannie

By
Stanley Bing
Stanley Bing
Down Arrow Button Icon
By
Stanley Bing
Stanley Bing
Down Arrow Button Icon
July 11, 2008, 10:08 AM ET

Dear Kids, 

Just a few thoughts on what you can expect when Uncle Sam takes over. It’s not going to be all that bad. But things will be different with your new proprietor, and it never hurts to be prepared for a brand new corporate culture.

First, you’re going to have a lot more paperwork. Oh, I know you think you’ve had a lot so far, but you ain’t seen nothing yet. Financial institutions sort of invented the stuff. Add a layer of government on top of that and you’re going to put the entire logging industry back on its feet. This is because, while large corporate bureaucracies always drive accountability to wafer-thin levels — spreading it out over the entire system if they can — nobody does this better than the Feds. Trying to ascertain who made a decision on an issue is like trying to figure out which bee just irrigated a specific chamber in the hive.

Second, your lunch hours will be shorter, and your workday more regularized. Did you ever read a book about the Siberian gulag, what life was like there? Well, it’s not quite as cold, but not so different. Wake up. Go to the rock pile. Go home. Wake up. Go to the rock pile. You’ll get used to it.

On the other hand, instead of being an employee per se, you will, in fact, be part of a permanent government that rules this nation year-in, year-out regardless of who is in power at the top. Your uber-bosses will change and new ones will arrive who are pretty much the same as the old ones. This is different than corporate life, where eccentricity often confers power. Your immediate managers will be Commissars three levels down from the politicians who pass in and out of government agencies like tumbleweeds over the tundra. They will never go away. But the chance of finding them on a golf course while the bank is burning down is minimal.

You will, of course, have to sell your snappy outfits, tasty footwear and juicy ties and scarves. Go to your local big-box clothing store. Acquire three gray suits. Ties may be in black or gray, and keep the patterns to yourself. A pair of enormous black shoes will complete the ensemble.

Did I mention that if you had an expense account you just lost it? I’m not sure how many of you Freddies and Fannies do lunch. I don’t usually see you out and about. But from here on in, you can break out your attache case, because it’s going to have a permanent PB&J in it or, if you are on the west coast, something with sprouts.

Contrariwise, you can also kiss those long, frenzied weekends and ruined vacations and holidays goodbye. Government workers are not encouraged to do overtime, and they go home at 5:00 p.m. unless the Martians have just landed and some form of response is necessary. Just look at the way they handled Katrina. It’s not like they didn’t get down there, eventually. They just did it on Government time.

On the whole, it won’t be a huge shock, I don’t believe, to move from corporate governance to government corporatude. It might even be an improvement. I mean, how much fun are you having right now anyhow?

Stay in touch. Don’t forget to write. In triplicate, if possible.

Luv ya,

Dad

About the Author
By Stanley Bing
See full bioRight Arrow Button Icon

Latest in blogging

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
Economy
‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
By Jacqueline MunisMay 10, 2026
1 day ago
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
Tech
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
By Sydney LakeMay 10, 2026
1 day ago
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
Success
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
By Orianna Rosa RoyleMay 9, 2026
2 days ago
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
Future of Work
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
By Jake AngeloMay 9, 2026
2 days ago
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
Commentary
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
By Steve H. HankeMay 10, 2026
1 day ago
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
Politics
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
By Jason MaMay 9, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.