Page 47 - Executive Pay News Today

with president obama and the first family, but hes with me this hour to explain more. im wolf blitzer. youre in "the situation room." hes come on through the rise and fall of michele bachmann, but this time, it might be different for mitt romney. newt gingrich is now posing a threat to romneys persistent high polling, opening up a new battle line in the republican race for the white house. joe johns the working the story for us. whats the latest between romney and gingrich? >> well, ...

And the fannie mae executive this last year with bonuses will make $5.6 million in an agency that has lost money in 16 of the last 17 quarters. >> besides the fact of rewarding failure, you sent a letter to demark coand a letter came back and one thing he says in the letter, we reduce senior executive pay by an average of 40%. what he doesnt say, though, is what tremendous amount of pay was being made to even before this. i mean, a 40% reduction brings these salaries down to about $900,000, not ...

And the fannie mae executive this last year with bonuses will make $5.6 million in an agency that has lost money in 16 of the last 17 quarters. >> besides the fact of rewarding failure, you sent a letter to demark coand a letter came back and one thing he says in the letter, we reduce senior executive pay by an average of 40%. what he doesnt say, though, is what tremendous amount of pay was being made to even before this. i mean, a 40% reduction brings these salaries down to about $900,000, not ...

Print, you only had to achieve modest performance gains to be eligible for $12.5 million in bonuses? it just doesnt seem to add up in our current times. >> i want to know who okd these salaries to begin with. for example, they didnt write them in themselves. its not a private company so in 2008 when freddie and fannie were propped up by the u.s. government because it would be worst for the country if they collapsed, im sure somebody jotted that down. and this guy -- these guys didnt say it yeste...

Bonus. >> they vote to stop a bonus as with as reduce the executive pay. the head of freddie mac understands the outrage over the compensation. >> we 9% unemployment in the country and millions of families at risk of losing the homes. i understand the outrage. >> the federal official who oversees them said he has to pay more to get the best people in hopes of minimizing taxpayer losses. >> others may believe that talent is easily and quickly hired compensation far below that of competing private...

For 12 managers of some $35 million in 2009 and 2010, it was too much. and that included $1.7 million in assign -- in a signing bonus. a hearing is about to start as you said on oversight and government reform where the two top executives of fannie and freddie will face lawmakers questions. yesterday the house financial services committee voted 52-4 to end those bonuses and any future ones, as well as reduce executive pay to standard federal levels. committee chairman republican spencer baucus s...

There is the link right there, click on it. jenna: thinks another very big economic story the ceos of mortgage giants fredee mcand fanny mae are on the hot seat. they ask why executives get multi-million dollar pay packages when our money is keeping freddie and fannie afloat. jim angle is live with more on this. >> reporter: congress is already unhappy about spending $170 billion to bail out fanny mae and freddie mac, the quasi federal agen agencies that own or have half of the mortgages. the ho...

Regulator defended the packages. >> taxpayers providing financial support to the enterprises and guaranties on $5 trillion of mortgages would not be better off if we provoke a rapid turnover the senior management by further slashing compensation. indeed, such pay cuts would increase the risk of higher losses in the future. >> reporter: he says these executives are cleaning up a mess they inherited and those losses are from investments made well before they got there and before the housing crisis...

a week of twists and turns in the race for the republican presidential nomination. with two of the candidates in a very hot spotlight. herman cain facing accusations of sexual harassment and rick perry stumbling badly if the latest gop debate and now struggling to recover. cnns jim acosta is watching awe of this unfold. so whats going on right now? there are certain there is certainly a lot at play. >> certainly. there is an unromney and his name is newt gingrich. take a look at new po...

sandusky sexually assaulting a young boy in a campus shower. sandusky stands accused of assaulting eight boys. students are coming together, using facebook to coordinate a candle light vigil tonight in honor of the abused victims. less than a day after he was fired as head coach, pennsylvanias two senators say they are dropping their bid for joe paterno to receive the presidential medal of freedom. a major league baseball player kidnapped in venezuela is missing this morning. gunmans...