By Bill O'Reilly

Now we learn that the mortgage agencies Freddie Mac and Fannie Mae, in business with the federal government, paid almost $13 million in bonuses to their top executives in 2010. That is an outrage because those agencies currently owe the American taxpayer $141 billion.

Let me repeat. Fannie Mae and Freddie Mac owe us $141 billion and doled out $13 million in bonuses last year.

This is why the federal government is out of control. Freddie and Fannie are not government agencies per se. They are private companies, but they receive support from the federal government -- taxpayer money -- in subsidies and loans.

Fox White House correspondent Ed Henry asked Jay Carney about it on Tuesday.

(BEGIN VIDEO CLIP)

ED HENRY, FOX NEWS CHIEF WHITE HOUSE CORRESPONDENT: There is a report that Fannie and Freddie, in particular Freddie Mac, their top five officers got some bonuses in 2010. These are institutions that obviously got taxpayer bailouts.

JAY CARNEY, WHITE HOUSE PRESS SECRETARY: These organizations, these entities are independent, and therefore they are independent decisions. The White House is not involved and nor should it be.

(END VIDEO CLIP)

Wrong, with all due respect. The White House should be as outraged as "Talking Points" is, and Congress should immediately suspend Fannie Mae and Freddie Mac. We do not need those agencies. They are poorly run, and they are hurting America. Get rid of them.

If the federal government wants to practice social justice -- that is funneling money to poor Americans for housing -- do it under the authority of Congress, not flimflam outfits run by incompetents.

Now, where are the "Occupy Wall Street" protests when it comes to Fannie Mae and Freddie Mac? Why aren't they marching in D.C. against these people? $13 million in bonuses? They owe us $141 billion, but you won't see the "Occupiers" do that because they want the feds to give people houses.

The bottom line on this story is that government waste continues unchecked; our taxpayer dollars are being flushed away. There are so many scams, so many out-of-control situations in Washington that it's impossible to keep track of them. What a disgrace.

And that's "The Memo."

Pinheads & Patriots

Condoleezza Rice has a new book out, and Tuesday night she spoke with Jon Stewart:

(BEGIN VIDEO CLIP)

JON STEWART, HOST, "THE DAILY SHOW": Muammar Qaddafi is killed. Were you aware that he had a strange and, shall I say, a creepy fixation on Secretary of State Condoleezza Rice? Did you know that?

CONDOLEEZZA RICE, FORMER SECRETARY OF STATE: I -- I was aware. Several of my foreign minister colleagues had told me before I went to visit him back in 2008 that he had this fixation, and when I got there I thought, "Just get through your business," you know, "Just do diplomacy, just get out of here." And everything was going fine and then, all of a sudden, he said, I have this video for you and I thought, "Ut-oh, what is this?" But it was actually just pictures of me with Hu Jintao, with Vladimir Putin of Russia, set to a song that he had had written called "Black Flower in the White House."

(END VIDEO CLIP)

Good story. Dr. Rice remains a patriot.

— You can catch Bill O'Reilly's "Talking Points Memo" and "Pinheads & Patriots" weeknights at 8 and 11 p.m. ET on the Fox News Channel and any time on foxnews.com/oreilly. Send your comments to: oreilly@foxnews.com.