Fannie and Freddie, Will Bonuses Be Returned?
Congressman Denny Rehberg and Senator Jon Tester co-sponsored a measure to prevent taxpayer funded bonuses for Fannie Mae and Freddie Mac. The government sponsored enterprises recently approved nearly $13 million in compensation for their top executives after taking $141 billion in taxpayer-funded bailout funds. The measure would freeze the compensation packages, establish new ones and each executive officer of Fannie and Freddie whose compensation package is suspended should be returned. The legislation also put the rest of the Fannie and Freddie employees on the general schedule for federal civil service employees. This legislation was passed by the full committee on a vote of 52-4 Tuesday, and is ready for action on the house floor.