Fannie/Freddie Executive Bonus' [/align][hr]
I find it ironic that Chris Dodd and Barney Frank don't have the same amount of outrage for Freddie Mac/Fannie Mae handing out bonus that they do for AIG.
This one is flying below the radar, and I think the Dems want it that way..... After all it was Maxine Waters (D) who said Fannie and Freddie were solid.......
WASHINGTON (AP) -- Fannie Mae plans to pay retention bonuses of at least $1 million to four key executives as part of a plan to keep hundreds of employees from leaving the government-controlled company.
Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.
The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 billion.
The bonuses are more than double last year's, which ranged from $200,000 to $260,000. Another round of bonuses ranging from $330,000 to $429,000 are planned for next February.
A company spokesman declined further comment.
http://finance.yahoo.com/news/Fannie...-14679491.html [/align]
Anyone else see an issue here?
