The next CEOs of Fannie Mae and Freddie Mac, the government-run housing finance companies, will not be getting large salaries. The current CEOs, who will be leaving later this year, receive an annual compensation packages close to $7 million for 2011.
The pay package for the future executives will be far less than the multi-million dollar deals. Both CEOs earn an annual base salary of $900,000. In addition to that, each will take about $6 million more in deferred pay and bonuses.
Both companies have received taxpayer aid totaling more than $169 billion.
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