Freddie Mac CEO steps down

Freddie Mac gave new CFO a $1.95 Million signing bonus

Considering the fact that the US, and the rest of the world, is still trying to recover from a recession one has to wonder why a company still under government governorship hands over $1.95 million as a signing bonus to its new CFO Ross J. Kari.

Along with that he also received the following perks

  • annual compensation of $3.5 million (this includes $675K in salary, $1.6 million in something called “additional annual salary” and $1.1 million in a target incentive
  • immediate buyout of Kari’s house (or perhaps houses)
  • reimbursement for travel between Washington D.C. and Kari’s residences in Ohio, Washington and Oregon
  • These were among the tidbits that the folks over at found when they when through his employment contract that they had come across. As they also pointed out none of this was ever included in Freddie Mac’s press release about the appointment.