David
Joined: 19 May 2004
Posts: 754
Location: Atlanta, GA
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| Posted: Wed Feb 09, 2005 10:31 pm Post subject: Excessive Bonuses to Fannie Mae members? |
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What do you think about this one?
Quote: Based on reported earnings it must now correct, Fannie Mae paid $65.1 million in bonuses to employees in 2003, according to one of the federally chartered company's congressional overseers.
The bonuses, pegged to annual earnings targets set by the Fannie Mae board, were distributed to a group of 749 members of management, according to data released Wednesday by Rep. Richard Baker, R-La., chairman of the House capital-markets subcommittee. That was more than double the $27.1 million in bonuses awarded to a group of 547 participants in 1998.
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