Ousted Fannie and Freddie CEOs get $24 million in bonuses
Story By: Bea Karnes
Source: AP
Washington, D.C. Published 71 day(s) ago
Chief executives stepping down from Fannie Mae and Freddie Mac are waiting for their final paychecks, which will total $24 million. The government took control of the two mortgage financing agencies earlier this week.
In a letter to the Federal Housing Finance Agency, two senators say that the millions of dollars in bonuses for executives is "out of line" because "errors in management" are now costing taxpayer
dollars. The Democratic senators, Charles Schumer of New York and Jack Reed of Rhode Island, both sit on the Senate's banking committee.
Some members of Congress began seeking pay curbs after the two companies' CEOs received $32 million in compensation last year.
