News Summary: Fannie Freddie mgrs median pay $200K

Published on NewsOK Modified: December 10, 2012 at 4:43 pm •  Published: December 10, 2012
Advertisement
;

REPORT ON PAY: A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. Taxpayers so far have paid about $170 billion to rescue Fannie and Freddie, which almost collapsed from losses on risky mortgages during the financial crisis.

POOR MONITORING: The Federal Housing Finance Agency, which oversees the two mortgage giants, did an inadequate job monitoring pay, according to the report from the inspector general for the FHFA.

COMPENSATION COSTS: Compensation for senior managers at the companies, who represent nearly 17 percent of the workforce, cost about $455 million in 2011.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Check out the Thunder postseason playlist
  2. 2
    VIDEO: Blake Griffin dumps water on a fan
  3. 3
    Oklahoma City Thunder: Grizzlies guard Nick Calathes calls drug suspension unfair
  4. 4
    Dave Chappelle Reveals Shockingly Buff New Look
  5. 5
    Peaches Geldof Funeral to Be Held on Easter Monday
+ show more