In this case, we’re talking about two companies that are in federal conservatorship.
WASHINGTON (AP) — Fannie Mae is planning to pay retention bonuses of as much as $611,000 each to several top executives of the government-controlled mortgage finance titan. Sibling company Freddie Mac is planning similar awards.
Fannie Mae disclosed in a recent filing with the Securities and Exchange Commission that it’s planning bonuses of $470,000 to $611,000 for four top executives, on top of their base salaries this year.
And federal regulators are defending the plan.
“I think it’s a reasonable and well-thought out plan,” James Lockhart, the director for the Federal Housing Finance Agency told reporters at a housing symposium. “The most important thing in those companies are the human assets,” he said.
Do you suppose President Obama has an opinion on this?
UPDATE: Ed Morrissey has the breakdown on these bonuses.