Chairman of the House Financial Services Committee, Barney Frank (D-Mass) said that the bonuses being paid to the CEOs of the government bailed-out mortgage giants, Fannie Mae and Freddie Mac are too high, but nothing can be done about it now.
cnsnews.com: 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 CNSNews.com 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 Eve.
