Fannie Mae's Overpaid Board: Can President Obama Turn Words Into Action?

Monday 02 February 2009
by: Dean Baker, t r u t h o u t | Perspective

Last week, President Obama called it "shameful" that the bank executives, who took taxpayer money through the bailout last fall, paid themselves large bonuses. While the vast majority of the public agrees with this view, there is little that President Obama can directly do about these bonuses at this point.

However, with more bailout money on the way (probably much more), President Obama will be in a position to seriously constrain executive compensation in the future at the banks that are subsisting on government largess. However, before we even get to Round II of the bailout, there is some quick business that he should attend to right here in Washington.