Good old Barney Frank

Barney Frank Says Multi-Million Dollar Bonuses for Government-Owned Freddie, Fannie ‘Too High’--But Nothing Can Be Done About It
Friday, January 15, 2010
By Nicholas Ballasy, Video Reporter

House Financial Services Committee Chairman Barney Frank (D-Mass.) (AP Photo)

(CNSNews.com) -- The Obama administration recently approved base salaries of $900,000, plus $3.1 million in deferred payments, and another $2 million in bonuses for the CEOs of the failed mortgage giants Fannie Mae and Freddie Mac. When asked if tax dollars should pay those bonuses or if they should be cancelled, the chairman of the House Financial Services Committee, Rep. Barney Frank (D-Mass.), told CNSNews.com that the bonuses were “too high” but “nothing can be done now.”

The $6-million compensation packages were approved by the Treasury Department and the Federal Housing Finance Agency, and made public on Dec. 24, 2009, Christmas Eve.

When CNSNews.com asked whether the bonuses should be paid or cancelled, Rep. Frank said: “No, I thought they were too high. Again, we had some language in the bill we passed that still would have been administered by them but would have put some limits on them.” Frank spoke with CNSNews.com at a Capitol Hill press conference on executive compensation on Wednesday.
Kliphnote: Let's see them blame Bush.