egarrard
12-28-2004, 12:16 PM
http://story.news.yahoo.com/news?tmpl=story&cid=514&e=9&u=/ap/20041228/ap_on_go_ot/fannie_mae
WASHINGTON - Franklin Raines, who was forced out as Fannie Mae's chief executive after five years, is due to receive a pension of $1.3 million a year for life, according to an agreement with the mortgage lending giant.
In documents filed Monday with the Securities and Exchange Commission, Fannie Mae also revealed that Raines has deferred compensation of $8.7 million to be paid out through 2020 and owns more than $5.5 million in the company's stock. Ain't nothin' better than dealin' in gov'ment loans... :shifty
WASHINGTON - Franklin Raines, who was forced out as Fannie Mae's chief executive after five years, is due to receive a pension of $1.3 million a year for life, according to an agreement with the mortgage lending giant.
In documents filed Monday with the Securities and Exchange Commission, Fannie Mae also revealed that Raines has deferred compensation of $8.7 million to be paid out through 2020 and owns more than $5.5 million in the company's stock. Ain't nothin' better than dealin' in gov'ment loans... :shifty