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THURSDAY, NOVEMBER 26, 2009
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7

Frank Targets Fannie, Freddie Execs' Bonuses

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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.

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.
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)
Barney Frank meets reporters on Capitol Hill on Tuesday, joining the torrent of criticism aimed at American International Group (AIG).
Barney Frank meets reporters on Capitol Hill on Tuesday, joining the torrent of criticism aimed at American International Group (AIG).   (AP Photo)
In this May 2, 2007 file photo, the Fannie Mae building in Washington is seen. When the U.S. government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than bad debts. They're also potentially on the hook for tens of millions of dollars in legal fees...
In this May 2, 2007 file photo, the Fannie Mae building in Washington is seen. When the U.S. government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than bad debts. They're...   (AP Photo/Manuel Balce Ceneta, File)
This file photo shows Freddie Mac's corporate offices in McLean, Va.
This file photo shows Freddie Mac's corporate offices in McLean, Va.   (AP Photo)
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7 comments
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ClingingToHope
Mar 20, 09 2:44 PM CDT
When will Barney give back the campaign contributions he received from them? Reply
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IN RESPONSE:
AnnieChrist
Mar 20, 09 3:30 PM CDT
You beat me to the punch, my response was the headline should read "With camapign contributions safely in his pocket Frank Targets Fannie, Freddie Execs' Bonuses."
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TerrifiedCitizen
Mar 20, 09 2:49 PM CDT
Frankenheimer hasn't had much else to do lately, this looks like a great media-op. Reply
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BackAgain
Mar 20, 09 3:13 PM CDT
Suffering succotash it could not happen to a nicer dimwit. Reply
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0bamaBinBiden
Mar 20, 09 6:08 PM CDT
This comment has been removed by Newser’s community. You must be logged in to view this comment. Reply
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