Frank Targets Fannie, Freddie Execs' Bonuses

By M. Morris,  Newser Staff
Posted Mar 20, 2009 2:27 PM CDT
House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., speaks during a hearing on the Troubled Assets Relief Program in Washington, Dec. 10, 2008.   (AP Photo)
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(Newser) – Executives at government-owned mortgage giants Fannie Mae and Freddie Mac are scheduled to receive six-figure retention bonuses, but Barney Frank wants the payments canceled, MarketWatch reports. “In this troubled economy, and in this job market, it is difficult to imagine that the companies would not be able to find competent and talented replacements for anyone who chooses to leave,” the House Financial Services chair said in a letter to a federal regulator.