Part-Time Fannie Mae Board Members Making $160,000 A Year

The American Prospect:

It's good work if you can get it. The Washington Post reports that Fannie Mae announced its new 10-person board of directors today. The article reports the members will get $160,000 each, with the chairperson getting $250,000. Heading a committee can get you an additional $25,000.

The remarkable part of this story is that the Washington Post reporter could not find a single person who thought that paying part-time workers $160,000 a year was a board idea. There is absolutely no one cited in this piece who raised a question about the compensation levels for the board.

Read the whole story: The American Prospect

Comments

[JoeBlough]

Well there's your problem. Too much corruption. It is just assumed that all government workers are entitled to wealthy positions. Better to hire real people for real wages.

[edwcorey]

This is rife throughout federal and local governments. Our small-town board members get $800 a month to sit down for an hour 12 times a year. And taxes keep going up, though property values are crashing.

[Tropiholic]

As long as they can get away with this thievery they will continue.

[H2Opolomom]

Then there's me with no Bush connections, with an MBA, years of experience who is trying to get just above minimum pay jobs, and part time at that. Obviously I I was not in the Bush league...

[Mahi Joe]

More of the same, greedy individuals who are all in it for the money and could care less about anyone else. And these rxecutives are probably the same greedy people who are outraged over the automakers making a salary 1/10th of theirs and who actually do work for a living. This is not only sad but pathetically immoral. This needs to stop.

[drock973]

Board idea or bad idea?

[Chlowina]

Where do I send my resume?

[UltraClassic]

Were some of those members the same ones that Maxine Waters, Barney Frank and the CBC were kissing up to during that famous youtube flick?

[deminmo]

Is anyone besides me just shaking their head right now?
I want a position like this!

[blueskybigstar]

Outrageous waste.

[Emlyn]

They should work for minimum wage.

[jeffp26]

I want that job.

Oh, and by the way, I saw this whole mortgage mess coming in 2004, sold my house in 2005, and shorted many financial companies.

So I am qualified, more than any clown they have on the board now.

[Kaye08]

Outrageous! I hope all of these Bank execs and these Board members get called on the carpet by the congressional committees and get their paychecks reduced like the auto executives did! Same amount also! $1.00 per year!

[schatsie]

and take away their expenses and stock... Do you know where they hold those board meetings? I don't know, but I am betting Aspen and that place in Utah in the winter and Martha's Vineyard in the summer and all expenses paid.... What a deal and NO responsibility. all legal expense paid by the corporation... NO RESPONSIBILITY AT ALL

[BSERIUS]

Frank and Dodd should be jailed for their part in Freddie and Fannie

[lisakaz2]

Of course no one asked that question. They're all in a bubble and forget the fact that most Americans don't make that for FT work. And yet it is supposed we who make too much money...go figure the Reethuugs