Wall Street Journal (09/15/08) P. A18; Hagerty, James R.
Despite contract provisions allowing "golden parachute" severance payments to ousted Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron, the Federal Housing Finance Agency issued a statement indicating that it would block such compensation. If the agency does not step in, James F. Reda & Associates LLC senior consultant David Schmidt says exit packages could reach $8 million for Mudd and $15 million for Syron. The regulator attributes its decision to "applicable statute and regulation." After the government takeover, Herb Allison was named as Mudd's successor and David Moffett assumed Syron's position.
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