Rep. Frank: Govt. Should Cancel Fannie, Freddie Bonuses

Rep. Barney Frank (D-Mass.), chairman of the House Financial Services committee, said today that the government should step in and cancel the retention bonuses given to executives of Fannie Mae and Freddie Mac, which The Post's Zach Goldfarb reported here earlier this week.

The public "rightfully insists that large bonuses such as these awarded by institutions receiving public funds ... cannot continue," Frank wrote in a letter today to the Federal Housing Finance Agency, which regulates Fannie and Freddie.

-- Frank Ahrens
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