Sunday, April 5, 2009

Fannie/Freddie Bonuses

They have got to be kidding!!

"give workers the incentive to stay in their jobs"

Here is some incentive. Lose your job and you won't be able to find another one. And you save $210M in a bankrupt company.

WASHINGTON – Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies.

The retention awards for more than 7,600 employees were disclosed in a letter from the
companies' regulator released Friday by Sen. Charles Grassley of Iowa, the senior Republican on the Senate Finance Committee. The companies paid out nearly $51 million last year, are scheduled to make $146 million in payments this year and $13 million in 2010.

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