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View Full Version : Fannie and Freddie Paying "Retention Bonuses"



Kathianne
04-03-2009, 11:05 AM
So will Barney get up and tell their names and addresses? Will left wing groups bring the press to their homes? Will Congress target their bonuses? :laugh2:

http://online.wsj.com/article/SB123876318076986497.html#mod=testMod


APRIL 3, 2009, 11:52 A.M. ET
Fannie, Freddie Set to Pay $210 Million in Retention Bonuses
In a compensation program that has drawn angry protests from politicians, Fannie Mae and Freddie Mac expect to pay about $210 million in retention bonuses to 7,600 employees over 18 months, according to a letter from the mortgage companies' regulator to Sen. Charles Grassley.

The maximum retention bonus for any individual executive under the plan will total $1.5 million during the 18 months ending in early 2010, according to the letter, which provides previously undisclosed details about the bonuses. The regulator, James Lockhart, director of the Federal Housing Finance Agency, said in a letter to the Iowa Republican senator that ...