House panel moves to block Fannie, Freddie pay

WASHINGTON Tue Nov 15, 2011 12:05pm EST

WASHINGTON (Reuters) - The House of Representatives Financial Services Committee on Tuesday approved a bill that would crack down on the pay packages for executives at mortgage giants Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).

The bill would suspend 2011 compensation packages for executives at the two companies, which were taken over by the government in 2008, and instead have them paid based on a government pay scale.

(Reporting by Dave Clarke; Editing by Chizu Nomiyama)

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Comments (3)
Woltmann wrote:
Should do this at AIG too, like a year ago ..

Nov 15, 2011 12:47pm EST  --  Report as abuse
Since FANNIE and FREDDIE are GSEs it’s time to make them profitable or public entities. NO PROFITS = NO BONUSES!

Nov 15, 2011 1:31pm EST  --  Report as abuse
Adam_S wrote:
Woo Hoo !!

Nov 15, 2011 5:51pm EST  --  Report as abuse
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