Fannie says it is vital to keep their "key" employees... The same employees who ran the company into the ground. Seems like quite the double standard here.

http://finance.yahoo.com/news/Fannie...-14679491.html

WASHINGTON (AP) -- Fannie Mae plans to pay retention bonuses of at least $1 million to four key executives as part of a plan to keep hundreds of employees from leaving the government-controlled company.

Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.

The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 billion.

Fannie Mae disclosed its "broad-based" retention program in a recent regulatory filing with the Securities and Exchange Commission. The company was only required to disclose the amounts for the top-paid executives, who will pocket at least $470,000 on top of their base salaries.

The bonuses are more than double last year's, which ranged from $200,000 to $260,000. Another round of bonuses ranging from $330,000 to $429,000 are planned for next February.

 

Before I form an opinion on this, I'm going to wait to see if Obama tells me that I should be outraged. If he does not tell me to be outraged then I will believe that this is what he, and his administration need to do to correct eight years of failed policies under Bush and to rebuild the economy to be a happy, socialist system. I don't think I'm alone in this.

 

Bonuses after they lost 50 billion. Bawney Fwank's baby.

Looks like Chris Dodd gave away the AIG bonuses and tried to blame the Treasury Dept.

 

Do you really expect him to bite the hand that has been feeding him?

I will give they Kenyan credit for one thing, he does take care of those that gave him money.

 

I really don't understand how or why they would do this and I work in an industry that gets bonuses. Bonuses are a percentage of your salary based on individual and company performance. The individual component is small. The company sets targets for the year that they want to meet. Bonuses are calculated on how many of those targets are met.

The only way these guys should get a bonus is if the company target was run itself into financial ruin and even if that was the case to pay that bonus out with someone elses money should be criminal.