Barney Frank says Fannie ‘too high’

The Obama administration recently approved base salaries of $900,000, plus $3.1 million in deferred payments, and another $2 million in bonuses for the CEOs of the failed mortgage giants Fannie Mae and Freddie Mac. When asked if tax dollars should pay those bonuses, or if they should be cancelled, the chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.), told that the bonuses were “too high” but “nothing can be done now.” The $6 million compensation packages were approved by the Treasury Department and the Federal Housing Finance Agency and made public on Dec. 24, 2009, Christmas […]

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