Fannie, Freddie CEOs Defend High Executive Pay

Law360, New York (November 16, 2011, 3:25 PM EST) -- The CEOs of Fannie Mae and Freddie Mac on Wednesday defended the mortgage giants' executive compensation policies, including doling out millions in bonuses despite the bailout of the companies by taxpayers, saying high salaries were necessary to attract top talent.

Fannie Mae's top executive Michael Williams and Freddie Mac CEO Charles "Ed" Haldeman told the U.S. House Oversight and Government Reform that slashing the compensation for the mortgage companies' management teams would make it difficult to recruit and retain executives with the necessary skills to oversee...
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