Fannie Mae to Double Bonuses Over Last Year

Fannie Mae (while receiving financial backing from the Treasury department of over $200 Billion and asking for $15.2 Billion in taxpayer bailouts) has announced plans to increase bonuses for this year. Bonuses will range from $470,000 to $611,000 per recipient, which is more than double what they were last year.

Rival mortgage lender Freddie Mac, who has also Treasury backing of $200 Billion and has asked for $45 Billion in bailouts, said they were formulating similar plans.

Both organizations cite a need to keep key employees as a basis for these bonuses.