News Summary: Fannie Freddie mgrs median pay $200K

News Summary: Median pay for senior managers at Fannie, Freddie was more than $200K in 2012

Associated Press

REPORT ON PAY: A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. Taxpayers so far have paid about $170 billion to rescue Fannie and Freddie, which almost collapsed from losses on risky mortgages during the financial crisis.

POOR MONITORING: The Federal Housing Finance Agency, which oversees the two mortgage giants, did an inadequate job monitoring pay, according to the report from the inspector general for the FHFA.

COMPENSATION COSTS: Compensation for senior managers at the companies, who represent nearly 17 percent of the workforce, cost about $455 million in 2011.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You