More Executive Bonuses

What could possibly be better than the AIG bonus story, you ask?  Well how about some other examples of big bonuses being paid by companies getting federal bailout money?

Yes, the word is that mortgage giants Fannie Mae and Freddie Mac - both of which were essentially taken over by the feds late last year - are going to be paying executives some big bonuses soon.

In a financial filing, Fannie Mae reports it will pay bonuses to four top executives of between $470,000 and $610,000.

Yep, you read that right.

These are retention bonuses, not performance bonuses.  That's probably a good idea, because last year, Fannie Mae lost $59 billion.

And they had to take $15 billion in federal bailout money.  Many believe that will grow.

Now, who would have approved these bonus plans at Fannie and Freddie?

That would be the Federal Housing Finance Agency.

I really wouldn't want to be one of the chieftains over there, especially as they watch members of Congress burn the AIG CEO at the stake on Wednesday.

And I'm sure, there are lots more stories just like these, from companies that are taking federal bailout money.

That's some sweet money.  But it will sure create some public heartburn.