New FHFA Compensation Program Would Kill Fannie, Freddie Executive Bonuses, Cut CEO Pay to $500,000
March 15, 2012
Fannie Mae and Freddie Mac executives will take home significantly less compensation during 2012, even as staffers at the taxpayer-subsidized companies will be monetarily rewarded for hitting performance goals though they wont be called bonuses under a new plan unveiled late last week by the Federal Housing Finance Agency. The FHFAs 2012 executive compensation program reduces top executive pay at the government-sponsored enterprises by nearly 75 percent from pre-conservatorship levels, while it totally eliminates bonuses and establishes a six-figure pay target for the executive positions...