Thursday, December 24, 2009
News item on Fannie/Freddie CEO pay
Bob Hagerty in the Wall Street Journal says they will make $6 million each. This is absurd--they are now government agencies. It would not be unreasonable to cap GSE CEO pay at the President's pay (by that I mean the US President). I would even let them have a rent-free house. I could even see giving them a bunch of shares, so if by some miracle the GSEs became going concerns again, the CEO would benefit. But the current arrangement is bizarre.