Fannie, Freddie CEOs denied exit bonuses: report

[tekisui]

http://www.reuters.com/article/bondsNews/idUSN1446496320080915?sp=true


WASHINGTON (Reuters) - U.S. regulators will not allow mortgage giants Fannie Mae and Freddie Mac to pay their departing chief executives multimillion-dollar severance packages outlined in their contracts, The Washington Post reported on Sunday.

The Federal Housing Finance Agency (FHFA) has notified former Fannie Mae Chief Executive Officer Daniel Mudd and former Freddie Mac Chief Executive Officer Richard Syron that the so-called "golden parachutes" will not be paid, the Post reported, citing an agency statement.

Mudd and Syron were entitled to combined pay and bonus packages worth about $24 million as part of the government's plan to restructure the troubled companies, which own or guarantee about half of the $11 trillion outstanding home mortgages in the United States.

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[no_hypocrisy]

1. Just the fact that they expected their bonuses shows their insatiability for

money is. That they even asked . . .

[SammyWinstonJack]

2. No kidding!

x(

[Lint Head]

3. GREED KILLS!

:dem:

[SoCalDem]

4. They will sue, and a few years down the line, when no one is watching

they will get their money..:grr:

[Phoebe Loosinhouse]

6. Exactly right. Just a small and inconvenient delay. nt

[grannie4peace]

5. yea yea yea