Freddie Mac's chief - Richard Syron - made $10.6 million last year, according to Freddie Mac's latest report with the Securities and Exchange Commission.

Syron was appointed Chairman of the Board and Chief Executive Officer of Freddie Mac in December 2003.

Freddie Mac's mission is to "provide liquidity, stability and affordability to the housing market."

If management was at all responsible or effective how could they have ignored their own standards for lending requirements? And why should managment (the likes of Richard Syron) continue to earn huge incomes while Freddie Mac needs a Federal bailout?

Since it's taxpayer's money that will be committed to prop up Freddie Mac, shouldn't there be accountability on the part of senior management?

 
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3 Comments on Freddie Mac's chief earns over $10 Million despite disastrous performance

So what you are saying Stewart is NBC, CBS, and ABC are all just reporting garbage to scare everyone into watching!!!

07/19/2008 12:58 PM by Team DiMuria, Katy Texas Realtors (Prudential Gary Greene Realtors)

Another CEO who is getting rewarded with big bucks when the shareholders are getting stiffed.

07/19/2008 01:19 PM by John Walters (Specialized Real Estate)

This seems to be the accepted practice in corporate America.

But in this case, it's Taxpayers who are involved, not just shareholders.

07/19/2008 01:21 PM by Penn Properties - Los Angeles Real Estate

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Real Estate Agent: Stewart Penn - West Hollywood Condo Specialist (Penn Properties)
Stewart Penn - West Hollywood Condo Specialist
West Hollywood, CA
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