Fannie, Freddie Budget $210 Million On Bonuses

[Zefram]

Fannie Mae and Freddie Mac, the mortgage finance companies under federal control, are planning to pay $210 million in retention bonuses to 7,600 employees over 18 months, the firms' regulator said yesterday.

The Federal Housing Finance Agency said $51 million in payouts were given to employees in late 2008 and the remainder will come this and next year. The information was contained in a letter to Sen. Charles E. Grassley (R-Iowa.).

Fannie Mae and Freddie Mac's compensation plans drew scrutiny several weeks ago after American International Group paid $160 million in bonuses to members of the unit that brought the insurance giant down. The House passed legislation to significantly tax the AIG bonuses, though the measure has been stalled in the Senate. ....
Full Story @ WashingtonPost (http://www.washingtonpost.com/wp-dyn/content/article/2009/04/03/AR2009040303061.html?wprss=rss_business)

Your thought on this please ;)

[Nova]

We gave the banks trillions, that's chump change. I would rather they focus on where the hell all the money went and why, sh!t one of the many bailouts cost more than the war in Iraq and Afghanistan combined.

[DoK]

That averages out to a little over $25K per employee. That is on par with most large corporations. I don't see anything wrong with it.

Hell, I work with people who got over $30K for a bonus last year, and they're not even in management (but they do have lots of years of experience). Like Devils mentioned before, you've got to keep your talent.