The Times They Are Likely Changin' At Fannie, Freddie

Wall Street Journal:

Government regulators will cut sharply the pay of the executives they hire to succeed the departing heads of Fannie Mae and Freddie Mac, said regulators, which may make it difficult for the struggling mortgage-finance giants to attract and keep qualified chief executives.

Read the whole story: Wall Street Journal

Comments

[barbra1971]

02:11 AM on 01/18/2012

Qualified? Just like those before? Rather not.

[Eagleman]

04:06 PM on 01/17/2012

Appoint Barney Frank the CEO ?

[Dadfirst]

03:35 PM on 01/17/2012

You mean like cutting eliminating them?

[dhtucson]

02:23 PM on 01/17/2012

Wow!! And just in time for the election. Who could have predicted that? For 3 years this administration has been looking the other way on F&F, all the while paying millions to cover their losses and all the while paying those huge salaries. Now...enter the election season! Obama doesn't want to answer those pesky ads and questions regarding why he's done NOTHING with F&F for 3 years when they were a huge reason for the economic collapse in the first place. See...it's hard to get behind someone who screams about the inequity in the private sector ranks when they do nothing to clean up their own house. We can only hope that change in the WH occurs in 2012. That along with the departure of Mr. Franks and maybe, just maybe F&F will be overhauled into the efficient service it once was.

[Olderandwiser55]

03:57 PM on 01/17/2012

Not true. There is a plan to wind both of them down by the Obama admin and Geithner, duties will be transferred to government agencies. Govt in name only agencies should be shut down. Privatizing doesn't work.

[Archie Bonker]

12:50 PM on 01/17/2012

I thought Fannie & Freddie were going to retire with Barney and move to Florida.

[psnyder325]

12:24 PM on 01/17/2012

The continual statement that paying top executives hundreds of thousands a year rather than millions to run a company will "make it difficult to attract qualified executives" is absurd. Executive unemployment is at around 30%. Many of these executives are very competent and would be happy to find any work that paid hundreds of thousands. What they really mean is that it is more difficult to find "name" executives...those who are well known by everyone and who shuffle around a small group of companies. In reality, THESE executives do very little real work. Their value is mostly in their reputations and names, not in their competence. In fact, many of these "name" executive (Carly, for example) wind up getting fired for INcompetence. Look for competent executives with a history of success and the ability to turn around companies who are demanding only reasonable compensation. America will be better off for it.

[dukeitout]

11:31 AM on 01/17/2012

The article says reducing their pay "may make it difficult for the struggling mortgage-finance giants to attract and keep qualified chief executives." Nice try. HIgh pay and high results for these so-called leaders is not supported by the facts.

[Collapsing House Price]

11:31 AM on 01/17/2012

Yup they're a changin' alright. They'll change alot more when these two behemoths are shutdown for good.

[portfolio]

11:27 AM on 01/17/2012

Quit bringing in outside managers who have made their money in Banking to run these

agencies.

Hire from within and protect Freddie and Fannie from outside influences.