Volume 10 - Number 29
February 10, 2012
Congress Votes to Block GSE Bonuses
The already formidable task of replacing the outgoing CEOs at Fannie Mae and Freddie Mac got a little harder this week following swift congressional action to cut compensation levels at the GSEs down to size.
Both the House this week and the Senate have approved by overwhelming margins the Stop Trading on Congressional Knowledge Act of 2012, which would bar members of Congress and congressional staff from using non-public, inside information for private gain.
While the House version of the STOCK Act is weaker than the Senate’s, both versions retained an amendment sponsored by Sens. John McCain, R-AZ and Jay Rockefeller, D-WV, to prohibit Fannie and Freddie executives from receiving multi-million dollar bonuses while the GSEs remain in federal conservatorship.
Subscribers to Inside The GSEs have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
Already subscribe but haven't registered for all the benefits of the website?
Subscribe
This biweekly covers the housing-related government-sponsored enterprises with experienced, expert analysis.
Pay-Per-View
You can purchase this article for $50.00 without subscribing and always have access to it on insidemortgagefinance.com.
