At the end of trading (September 8, 2008), the first day after the "take over" of Fannie Mae and Freddie Mac, MarketWatch, a subidiary of Wall Street Journal, discusses how shareholders complain about the high compensation paid the CEOs.
The current price of stock was less that a dollar on each:
Shares of Fannie Mae (FNM) closed at 73 cents on Monday; 12 months ago the shares had traded as high as $68.60. Meanwhile, shares of Freddie Mac (FRE) fetched 88 cents at the close of trading Monday; the stock had been as high as $65.88 a year ago.
The New York Stock Exchange enjoyed a rally. Even before it opened, markets around the world were signaling approval of US action to put the two in "something like bankruptcy."
Because I read somewhere that Senator Obama is talking against the former CEOs' weighty severance packages, I thought it good to let others help in keeping up-to-date on campaign implications. I hope this link will be available in near term:
http://custom.marketwatch.com/custom/earthlink-net/mw-news.asp?GUID={832C8CA2-92B9-4AE4-9D8F-6105C62DBA1B}&destination=&symb=fnm
Sorry I couldn't QuickLink the article which is titled Shareholder Groups Blast Fannie, Freddie Payouts. I do not have a subscription.
