Fannie and Freddie Get a Huge Christmas Gift from Uncle Sam

Updated

So much for the U.S. Treasury Department announcing its much-anticipated exit program for government support of Fannie Mae (FNM) and Freddie Mac (FRE). Instead, on Christmas Eve, Treasury said the federal government would provide both with unlimited support for three to five more years. Also, Fannie's and Freddie's CEOs will get pay packages of $5 million to $6 million dollars. Stockholders liked the news and sent shares up by 20%.

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