Bookmark this site
Unlike Citigroup (C), Bank of America (BAC), AIG (AIG), Chrysler, and GM, Congress deemed that Fannie Mae and Freddie Mac had not received “exceptional assistance” and therefore did not have to have their pay decisions scrutinized by the pay czar.
Top executives of Fannie and Freddie could get paid as much as $6 million for 2009, despite the companies’ horrendous performances this year.
The government has already doubled the lifeline provided to Fannie and Freddie in May 2009 (from $100 billion each to $200 billion each) and reports indicate that the two had wanted the administration to double that lifeline again (to a total of $800 billion). Fannie so far has received $60 billion, Freddie $51 billion from taxpayers.
Read more from Fox Business
