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South Carolina Public Radio's offices will be closed Monday, May 27, in observance of the Memorial Day holiday. Our local news and programming will return Tuesday, May 28.

Big Severance Packages Await Fannie, Freddie CEOs

The government takeover of mortgage finance companies Fannie Mae and Freddie Mac has cost CEOs Daniel Mudd and Richard Syron their jobs. But Fannie Mae's Mudd could collect more than $9 million for leaving, while Syron could receive exit pay of more than $14 million.

Other Wall Street CEOs have received even larger packages when leaving firms battered by the housing slump. Still, the Fannie and Freddie packages are likely to draw fire from politicians and critics of high corporate pay.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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