Fannie, Freddie worker bonuses total $210M

Fannie, Freddie worker bonuses total $210M

news.yahoo.com

By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer – 2 hrs 54 mins ago
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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Oh, yeah, they really need those bonuses. Gotta keep those workers in place. You know, the same ones that screwed those companies up in the first place!

I wonder if Chris Dodd and Barney Frank are getting any of that phat cash? You know, any more than what they already siphoned off into their own wallets.

news.yahoo.com
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