“The government says it will cap pay for Fannie Mae and Freddie Mac chief executives at $500,000 per year and eliminate annual bonuses for all employees…
The government rescued Fannie and Freddie three years ago after they nearly folded because of big losses on risky mortgages. Taxpayers have spent about $170 billion to prop up the two companies, the most expensive bailout of the 2008 financial crisis.”
This from SF Gate. Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/03/09/financial/f070443S38.DTL#ixzz1ovRVFSe5
Awesome. You should be limited to $500,000 per year for overseeing losses to taxpayers of $170B. I mean, what kind of executive could you get to work for less than half a million per year? One that would lose $180B? Stunning, really.