Fannie Mae and Freddie Mac expect to pay about $210 million in retention bonuses to 7,600 employees over 18 months..As Congress Adjourns For Easter Break
The Wall Street Journal puts the numbers at $210 million
In a compensation program that has drawn angry protests from politicians, Fannie Mae and Freddie Mac expect to pay about $210 million in retention bonuses to 7,600 employees over 18 months, according to a letter from the mortgage companies’ regulator to Sen. Charles Grassley.
The maximum retention bonus for any individual executive under the plan will total $1.5 million during the 18 months ending in early 2010, according to the letter, which provides previously undisclosed details about the bonuses. The regulator, James Lockhart, director of the Federal Housing Finance Agency, said in a letter to the Iowa Republican senator that about $51 million of the payouts were made in late 2008 and that the rest are to be made this year and early next year.
In the letter, a copy of which was made available to The Wall Street Journal, Mr. Lockhart defends the bonuses as vital to retaining talent at the two companies, the main providers of funding for U.S. home mortgages. Fannie and Freddie, which reported combined losses of about $108 billion for 2008, are being propped up by capital infusions from the U.S. Treasury.
Just in time for Spring Break!
Trackposted to Nuke’s, The Pink Flamingo, Rosemary’s Thoughts, third world county, Democrat=Socialist, Conservative Cat, and The World According to Carl, thanks to Linkfest Haven Deluxe.
April 3, 2009 - 05:07 PM on April 3rd, 2009
Dick Durbin votes against Illinoisans…
Dick Durbin voted to kill an amendment that would ensure Illinoisans, and the Nation, would not have to carry the onerous burden cap and trade legislation…
April 3, 2009 - 06:24 PM on April 3rd, 2009
Does God Exist? More info on tomorrow’s debate…
For those who can not make it to the debate or afford the 98$ fee for viewing the debate live and online, there is another option. ……
April 3, 2009 - 06:24 PM on April 3rd, 2009
Does God Exist? More info on tomorrow’s debate…
For those who can not make it to the debate or afford the 98$ fee for viewing the debate live and online, there is another option. ……
April 4, 2009 - 01:20 PM on April 4th, 2009
[...] Thoughts, third world county, Democrat=Socialist, Woman Honor Thyself, Conservative Cat, and Right Voices. Also, thanks to Linkfest Haven [...]
April 4, 2009 - 02:08 PM on April 4th, 2009
Potbelly Stove: Doesn’t surprise me; Turban Durbin apparently does not care about the future of America.
And yet f’ing idiots keep electing him!
April 4, 2009 - 10:09 PM on April 4th, 2009
[...] to Nuke’s, Blog @ MoreWhat.com, The Pink Flamingo, Woman Honor Thyself, Right Voices, and The World According to Carl, thanks to Linkfest Haven Deluxe. Standard Podcast: [...]
April 5, 2009 - 07:50 PM on April 5th, 2009
[...] Thoughts, third world county, Democrat=Socialist, Woman Honor Thyself, Conservative Cat, Right Voices, and The World According to Carl, thanks to Linkfest Haven [...]
April 6, 2009 - 02:34 AM on April 6th, 2009
[...] Thoughts, third world county, Democrat=Socialist, Woman Honor Thyself, Conservative Cat, Right Voices, and The World According to Carl, thanks to Linkfest Haven [...]
April 6, 2009 - 10:19 AM on April 6th, 2009
[...] to Nuke’s, Blog @ MoreWhat.com, The Pink Flamingo, Woman Honor Thyself, Right Voices, and The World According to Carl, thanks to Linkfest Haven [...]
April 6, 2009 - 11:16 AM on April 6th, 2009
[...] The Pink Flamingo, Rosemary’s Thoughts, third world county, Woman Honor Thyself, and Right Voices. Also, thanks to Linkfest Haven [...]
April 6, 2009 - 11:22 AM on April 6th, 2009
LB Tea Party OTB…
As it stands right now, I’m still waiting for someone at Parks to return my calls. I keep calling but no luck yet. I may have to go ahead without their permission. I really am getting frustrated, but I’ll hang in there. Besides, the Police Department…
April 6, 2009 - 01:53 PM on April 6th, 2009
Obama Apologizing for ..well…Everything…except oh..Islam…
Oh and not for nothin but has any Muzzzzlim “leader”, radical or not…….. ever apologized for 9-11? EVER?
Any imaaaaaaaam apologize for the barbarians people who murdered, firebombed embassies and rioted because they didn’t like some um.. “c……
April 8, 2009 - 03:18 AM on April 8th, 2009
[...] county, Allie is Wired, Woman Honor Thyself, The World According to Carl, The Pink Flamingo, and Right Voices, thanks to Linkfest Haven [...]
April 8, 2009 - 02:07 PM on April 8th, 2009
LB Tea Party Is On…
The Police have given me the okay to have our Tea Party at Bixby Park (see map here), Long Beach, California, so it is a go! So far I have a total of one people who are attending at noon until we leave on 4/15/09, but I am looking forward to meeting …..
September 10, 2009 - 11:56 PM on September 10th, 2009
Part VIII: Sarah Palin, Mount Redoubt, Fundraisers, & Classy Liberal Criticism…
I think by now regular Pink Flamingo readers have noticed that I’ve been following the anti-Palin hits from the left. I think there is a connection between The One (bloody bore) doing badly and the left hitting Sarah Palin. Today she blasted him…
September 21, 2009 - 08:29 PM on September 21st, 2009
Barack Obama’s European Vacation & Advice and Consent…
Barack Obama thinks he is home free, selling out the US. Maybe he is, but from what I gather, the work he’s been doing in Europe requires the approval of the US Senate. I have yet to see anything written about the agreements The One (incompeten…
September 21, 2009 - 08:29 PM on September 21st, 2009
Trashing America, But Having a Great European Vacation!…
“I believe that God has planted in every human heart the desire to live in freedom. And even when that desire is crushed by tyranny for decades, it will rise again.”
Once upon a time America was a shining city on a hill, illuminated by red…
September 21, 2009 - 08:29 PM on September 21st, 2009
Proof Conservatives Have Strayed Far Right…
In 1994, when Bob Inglis was elected 4th District Congressman from South Carolina, going into the House along with Lindsey, who’d just been elected to Congress from the 3rd District, Inglis was considered the MOST conservative member of Congress …