Fannie Mae and Freddie Mac Executives Get $4 to $6 Million Paycheck
If you can run a company into the ground, Fannie Mae and Freddie Mac are hiring. Maybe look into Citibank, Bank of America, or any of the banks as well.
Mortgage finance companies Fannie Mae and Freddie Mac chief executives will receive pay packages in the range of $4 million to $6 million.
The Federal Housing Finance Agency has approved the pay details for Fannie’s Michael Williams and Freddie’s Charles Haldeman.
Fannie Mae and Freddie Mac together own or guarantee more than half of all U.S. mortgages. Fannie and Mac were placed into conservatorship by the U.S. Treasury in September 2008. It was one financial event among many in the ongoing mortgage crisis.
Fannie and Freddie are government-sponsored enterprises. The federal government created the corporations to purchase and securitize mortgages in order to ensure that funds are consistently available to the banking institutions that lend money to home buyers.
