Fannie Mae, Freddie Mac CEOs' massive pay raises spark anger on Capitol Hill

Fannie Mae, Freddie Mac CEOs' massive pay raises spark anger on Capitol Hill - Washington Times
Over the objections of the Obama administration and key lawmakers, the CEOs of bailed-out housing giants Fannie Mae and Freddie Mac are getting massive pay raises, courtesy of the regulator appointed by President Obama himself.
Federal Housing Finance Agency (FHFA) Mel Watt defended his decision to approve the pay hikes, which will raise the Fannie and Freddie CEOs’ pay from $600,000 to $4 million, as vital to “promote CEO retention, allow reliable succession planning and ensure the continuity, efficiency and stability” now that both companies have returned to financial health.
But the move sparked anger at both ends of Capitol Hill...