Lawmakers Target Fannie, Freddie Exec Pay Packages

Law360, New York (November 9, 2011, 5:15 PM EST) -- The House Financial Services Committee announced Wednesday that it will consider a bill next week that would reduce compensation for top executives at Fannie Mae and Freddie Mac in the wake of the government’s bailout of the mortgage giants.

The House committee said that it would consider a bill sponsored by Chairman Spencer Bachus, R-Ala., that would suspend the firms’ executives’ current pay packages and replace them with a compensation system based on government official salaries.

“The taxpayer-funded bailout of Fannie Mae and Freddie Mac is...
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