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Fannie, Freddie CEOs to Get $3.4 Million Raises
The Wall Street Journal (online registration required): The chief executives of government-controlled mortgage-finance firms Fannie Mae and Freddie Mac will get multimillion-dollar paydays thanks to a big raise approved by the companies’ regulator over the objections of lawmakers and the White House.
In separate Securities and Exchange Commission filings, Fannie Mae and Freddie Mac disclosed that their respective CEOs, Timothy J. Mayopoulos and Donald Layton, would have a total annual target compensation of $4 million each, effective Wednesday. The salaries of Messrs. Mayopoulos and Layton had been capped at $600,000.
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