Fannie, Freddie execs score $100 million payday

Source: CNN

Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.

The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011.

... Rep. Spencer Bachus, the chairman of the House Financial Services Committee, has scheduled a vote in his committee Tuesday on his own legislation that would suspend the compensation packages of top executives at the firms.

... The Democrat-controlled Senate Banking Committee also plans to hold a hearing on the matter on Tuesday. Additionally, the Republican-controlled House Committee on Oversight and Government Reform is set to call Edward DeMarco, the acting director of FHFA, and the CEOs of the two firms, to a hearing on the pay packages on Wednesday.


Read more: http://money.cnn.com/2011/11/15/news/companies/fannie_freddie_executive_pay/

of Zuccotti Park.

Yeah...now that's completely fair, isn't it?

Reward the ones who cause the problems and screw over the ones who pay for it.

:sarcasm:

made, oh so wrong, later on.

I hope these pay packages are blocked.

Mimicking Wall Street greed and excess makes it difficult to defend institutions set up to help first time buyers and the poor into homes.

...I want a refund.