Fannie, Freddie execs score $100 million payday
Fannie, Freddie executives score $100M payday post bailout - Nov. 15, 2011NEW YORK (CNNMoney) -- 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.
That's a total of $95.4 million, which will essentially be coming from taxpayers, who have been keeping the mortgage finance giants alive with regular quarterly cash infusions since the Federal Home Finance Agency (FHFA) took control of the companies in September 2008
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Re: Fannie, Freddie execs score $100 million payday
How about including some names and photos of the offending theives? My understanding is that Fannie Mae and Freddie Mac execs are heavily NW minorities, high percentage of Blacks - which was a main reason the government under Bush allowed ridiculous home lending standards for lower class Blacks and Latinos, even things like $300,000 mortgage loans to illegal aliens in California and Nevada.Originally Posted by Silver Stallion
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