Baker Seeks GSE Compensation Info

Rep. Richard Baker, R-La., wants to see detailed information about the compensation packages of top Fannie Mae and Freddie Mac executives.The Office of Federal Housing Enterprise Oversight has the authority to review and disapprove the compensation packages of a select number of officials at the two government-sponsored enterprises, Rep. Bakers says in a letter to OFHEO Director Armando Falcon Jr. "I request that OFHEO make available to my office the compensation of each position..," he says. "Such information should include, but not be limited to: annual salary and fringe benefits; amounts of deferred compensation; insurance benefits; private club memberships; and stock options." Rep. Baker, who chairs the House Financial Services subcommittee on capital markets, insurance and GSEs, want the compensation information by Oct. 31. A spokesman pointed out that Fannie Mae already discloses the compensation of its top 11 executives on the company website.