NEW YORK (CNNMoney)–Mortgage Finance Giants Fannie Mae and Freddie Mac received the lion's share of federal bailout of the financial crisis. And nearly $ 100 million of their tax dollars are going to pay benefit packages for top executives, the filing shows.
The top five executives at Fannie Mae receives $ 33.3 million in 2009 and 2010, while five Freddie Mac received the $ 17.5 million. And each company has set a target to pay as much as $ 17 million to top managers for 2011.
It is a total of $ 95.4 million, which would essentially have come from the taxpayers, who have made a mortgage finance Giants lived with regular quarterly cash infusion due to Federal Home Finance Agency (FHFA) took over the company in September 2008.
Fannie CEO Michael Williams and Freddie CEO Charles Halderman, each receiving about $ 3.4 million to pay for a year, and they could receive more when their deferred compensation is set to the end of 2010. All Executive receives a significant portion of their salaries in the year or the year after they get.
CEO pay target for 2011 is about $ 6 million a piece, although Halderman may not get a lot of money because he has announced plans to leave Freddie sometime in 2012. He still has to be in the company to receive deferred compensation. His base pay for 2011 is $ 900,000, with most of the rest of his incoming payments deferred compensation.
