If President Obama gets his way it won’t be just the executives at Fannie Mae and Freddie Mac that will pay higher taxes. A report from the Federal Finance Housing Committee reveals that more than 2,000 non-executive senior managers at the two firms were paid over $200,000 in 2011. This report is sure to draw attention from both sides of the aisle. On one hand, taxpayers are still on the hook for $140,000,000,000 for the multiphase rescue of the two firms. On the other hand Fannie and Freddie guarantee $5 trillion in outstanding mortgages and fund about two-thirds of new mortgage loans.
“In my perfect world we’d sell them off and there would be buyers,” he says. “But you can’t do that because you would probably take the Fed down with it.”
Here’s a link to the full article: http://finance.yahoo.com/blogs/daily-ticker/fannie-freddie-employees-rake-big-bucks-165530820.html