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Author Topic: Fannie, Freddie CEOs Could Get $6M in Pay - What are the performance goals?  (Read 987 times)
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WhiskeyGirl
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« on: December 25, 2009, 10:09:38 AM »

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(CBS/AP)  The two chief executives of Fannie Mae and Freddie Mac could get paid as much as $6 million for 2009, despite the companies' dismal performances this year which cost taxpayers more than $100 billion.

Fannie's CEO, Michael Williams, and Freddie CEO Charles "Ed" Haldeman Jr. each will receive $900,000 in salary, $3.1 million in deferred payments next year and another $2 million if they meet certain performance goals, according to filings with the Securities and Exchange Commission on Thursday.

The pay packages were approved by the Treasury Department and the Federal Housing Finance Agency, which regulates Fannie and Freddie.


What are the performance goals?  Sucking up more taxpayer money?  Financial stability?      

Boggles he mind!!!

Quote
Barclays Capital predicts the companies will need anywhere from $230 billion to $300 billion out of a potential $400 billion lifeline, which the Obama administration expanded from the original $200 billion set last fall.

Most analysts don't expect the money to be returned anytime soon, if ever.


Sounds like a bad idea to keep it going.

http://www.cbsnews.com/stories/2009/12/24/business/main6018654.shtml
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