Carson Votes to Suspend Excessive Executive Pay and Bonuses

November 15, 2011

CARSON VOTES TO SUSPEND EXCESSIVE EXECUTIVE PAY AND BONUSES 

WASHINGTON, D.C. – Today Congressman Andre Carson voted as a member of the Financial Services Committee to pass a measure that would suspend bonuses for executives with Freddie Mac and Fannie Mae, the two mortgage companies operating under U.S. government control.

“Today I voted to rein in extravagant pay and bonuses at Fannie Mae and Freddie Mac,” Congressman Carson stated.  “Since the start of our financial crisis, taxpayers have paid billions to prop up these struggling mortgage giants.  Unfortunately, $100 million intended to prevent collapsing mortgage markets was diverted for executive pay and bonuses.” 

Carson added, “Fannie and Freddie need to attract top talent to address our mortgage crisis, and this requires competitive pay.  But as companies across the country have cut salaries and bonuses just to make ends meet, Fannie and Freddie should follow suit, especially when using tax dollars.”

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