The CEO’s of government-owned mortgage giants Fannie Mae and Freddie Mac could receive executive compensation packages totaling as much as $6 million, according to documents filed with financial regulators Thursday.
Another ten employees at the two government agencies are in line for bonuses totaling $30 million.
Together, Fannie and Freddie have availed themselves of over $110 billion in federal bailout cash since they were seized by the government fifteen months ago.
It’s unclear whether or not the administration of Barack Obama will move to address the compensation packages at Fannie and Freddie, although it has been slow to restrict bonuses at other “bailout babies.”
For example, Obama’s “pay czar,” Kenneth Feinberg, on Wednesday approved a $4 million raise for AIG CEO Robert Benmosche. AIG has received $182 billion in taxpayer-funded aid.
Feinberg was appointed by Obama to oversee executive compensation at seven firms which received “exceptional” amounts of federal aid under the $700 billion Troubled Asset Relief Program (TARP) bank bailout.
By Rob December 24, 2009 at 11:55 am
Happy holidays from the federal government: http://robvstate.com/2009/12/24/happy-holidays/
By Ynot December 24, 2009 at 12:37 pm
merry christmas fannie and freddie
love the us taxpayers!
By Liberty For Me December 24, 2009 at 1:28 pm
There is only one party in this country…If you think corporatism or war mongering is going to change because of a different letter behind their name.You are seriously delusional.Republicans pretend to be conservative but socialist agenda goes forward whoever is in power…It is all a shell game.
By suet December 24, 2009 at 10:13 pm
I bet Feinberg ends up giving the 2012 Obama campaign millions of dollars (stolen from our kids and grandkids)…
By paula mathis November 1, 2011 at 4:41 pm
Please let the American people know how they are being ripped off by these enormous federal bonuses. Not only is the money paid out, but a lot of it goes into political pockets. This insures that we will always have politicians ready, willing, and able to scratch each others backs with our money FOREVER!