Top executives at Fannie Mae and Freddie Mac were paid more than $35 million in the past two years while the two bailed-out mortgage finance giants were receiving $153 billion in support from taxpayers.
The huge payouts came to light in a new report published on Thursday by the Federal Housing Finance Agency’s Office of Inspector General.
“Although the Enterprises [Fannie Mae and Freddie Mac] have lost billions of dollars and continue to depend upon federal support to remain in business,” the reported states, “their senior executives continue to receive multi-million dollar salaries.”
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