Saturday, December 26th, 2009   6:03 am | Author: chris | Economy, Money, Politics/Government | Add Comment
Tags: compensation, Fannie Mae, Freddie Mac
While many are out of jobs or struggling to make ends meet some are raking it in.
In the last few months we have heard over and over again how the financial institutions that were on the brink of collapse decided to reward top executives with huge bonuses worth million of dollars.
The good times also apply to Fannie Mae and Freddie Mac who were in the middle of the mortgage mess. Both mortgage finance giants have been under government control since last year.
According to CNN Money:
“Fannie Mae CEO Michael Williams, who was promoted to CEO on April 21, will receive about $4.2 million in base salary and deferred cash payments for his time in the top job. The filing does not detail how much he was paid for his time as chief operating officer before his promotion, or what he will earn in 2010.”
“David Johnson, the chief financial officer and No. 2 at ..continue reading