It was just announced that Fannie Mae will be paying $611,000 in bonuses to four executives. Fannie recently requested $15 billion in bailout money from the government. Freddie Mac has requested up to $45 Billion, but they have not yet announced what their bonuses will be.
Fannie Mae is a government controlled company. It will be interesting to see if Senator Schumer threatens these people with 100% confiscatory taxes on these bonuses.
Freddie Mac will be announcing their bonus schedule but has not done so yet. I'm also wondering why they haven't requested that Franklin Raines pay back the money he received.
You're welcome to comment.