The Wall Street Journal is reporting that the top regulator for Fannie Mae and Freddie Mac is expected to announce millions of dollars in pay packages for top executives at the government-run mortgage finance giants.
"The Federal Housing Finance Agency approved a multi-million pay package for Fannie Mae chief executive Michael Williams, which is expected to be announced as part of the report. Mr. Williams' compensation is expected to be in a range of about $4 million to $6 million, people familiar with the matter said."
Way to go Pay Czar! I thought we were trying to curtail excessive compensation to those entities that received federal bailout money. Oh, I understand. Since these are government sponsored entities, they are exempt from such compensation oversight. I guess it is just like those "special bribes" certain Senators recently received for their votes.
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