Fascism Update: Fannie, Freddie execs get $3.4M pay raises

The Hill reports:

The leaders of the government-controlled housing agencies Fannie Mae and Freddie Mac got hefty pay raises on Wednesday, according to new disclosure reports.

Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton will each earn target compensation of $4 million, according to disclosures filed with the Securities and Exchange Commission (SEC).

Lawmakers had previously capped the controversial government sponsored entities' executive pay at $600,000.

It comes as Rep. Ed Royce (R-Calif.), a senior member of the House Financial Services Committee, introduced legislation that looks to cap their pay.

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