Freddie & Fannie CEOs Get Rich(er)
It’s just amazing to me that as the mortgage markets falter; shareholders watch their investments drop to nothing; and confidence in the US economy falls around the world; these two guys walk away with millions.
Mudd earned $11.6 million last year, and Syron made $18.3 million. In both cases, a large portion of their pay packages included stock that was valued much higher at the end of 2007 than it was as of Monday, when it was trading at less than $1 a share.
By conservative estimates, Mudd, 49, and Syron, 64, will leave with an additional $7.3 million and $6.3 million, respectively, as part of a severance package, according to an analysis by Paul Hodgson at the Corporate Library.
Well, honestly, I am always amazed to hear of $10 Million-Plus salaries, no matter the circumstances.
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