THE AMERICAN JOURNAL

Barney Frank Says Multi-Million Dollar Bonuses for Government-Owned Freddie, Fannie ‘Too High’–But Nothing Can Be Done About It

Friday, January 15, 2010
By Nicholas Ballasy, Video Reporter

(CNSNews.com) — The Obama administration recently approved base salaries of $900,000, plus $3.1 million in deferred payments, and another $2 million in bonuses for the CEOs of the failed mortgage giants Fannie Mae and Freddie Mac. When asked if tax dollars should pay those bonuses or if they should be cancelled, the chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.), told CNSNews.com that the bonuses were “too high” but “nothing can be done now.”

Read more: CNS News

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January 15, 2010 - Posted by | Uncategorized | , , , , ,

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