Wednesday, March 18, 2009

Hey, guess who else has an executive retention bonus plan?

from Hot
posted at 11:48 am
on March 18, 2009
by Ed Morrissey

While everyone assails AIG for using less than 0.1% of the taxpayer-bailout money it received to meet contractual obligations in compensation through retention bonuses, another recipient of government largesses has its own bonus program in operation. According to their annual report, Freddie Mac has a generous retention bonus plan built into its operation for the next year. Eligibility includes all of the senior and executive VPs. It comes in four payouts, and only the last has any connection to company performance.

If AIG’s retention bonuses are a problem, why aren’t Freddie Mac’s?
Click to read the article - The detailed data is shocking

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