Sens. Try To Boot Out Bonuses For Fannie, Freddie Execs

Law360, New York (January 31, 2012, 6:29 PM EST) -- U.S. senators incensed over nearly $13 million in bonuses paid to senior executives at Fannie Mae and Freddie Mac proposed Tuesday to ban any bonus payments to executives at the two companies while they are under government conservatorship.

Sen. John McCain, R-Ariz., along with Sen. Jay Rockefeller, D-W.Va., are pushing to have the bonus ban for Fannie and Freddie executives attached to a bill that will outlaw insider trading by lawmakers and their staff. That bill, the Stop Trading on Congressional Knowledge Act of 2012, cleared...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.