Obama To Bush: Don’t Give Sweetheart Deals To Fannie Mae/Freddie Mac Execs

Fannie Mae
Fannie Mae

“‘Under no circumstances should the executives of these institutions earn a windfall at a time when the U.S. Treasury has taken unprecedented steps to rescue these companies with taxpayer resources,’ Obama said in a letter to Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart. ‘I urge you immediately to clarify that the agreement with Fannie Mae and Freddie Mac voids any such inappropriate windfall payments to outgoing CEOs and senior management.’ ” [Link]

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