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US approves million-dollar pay for bailed out execs

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WASHINGTON — US officials unveiled pay packages for top executives at bailed-out housing finance giants Fannie Mae and Freddie Mac worth as much as six million dollars in a new step back from a clampdown on executive compensation.

Documents filed by the regulator for the two firms showed Fannie Mae chief executive Michael Williams and Freddie Mac CEO Charles Haldeman could each earn up to six million dollars per year, although some of that may depend on the performance of the companies and a portion will be deferred compensation.

Six other high-level executives at Fannie Mae and four others at Freddie Mac could earn over one million dollars, depending on performance,.

The regulator for the firms, which were seized by the government amid a meltdown in the housing market, said that even with the new pay levels, compensation for the top is executives is down 40 percent from before the firms were placed in government “conservatorship.”

Edward DeMarco, acting director of the Federal Housing Finance Agency, said these firms need competent executives since they play a role in funding three-fourths of all new residential mortgages.

“Policymakers ultimately will need to determine the future of the enterprises and the future structure of our housing finance system,” DeMarco said.

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“As this debate progresses, it will be essential that the enterprises continue to perform their current role. The enterprises must attract and retain the talent needed to accomplish these objectives.”

The two firms are not subject to the limits on firms bailed out under the Troubled Asset Relief Program, which was passed by Congress after Fannie and Freddie were seized.

Firms receiving “exceptional” aid under TARP will see their executive salaries limited to 500,000 dollars annually in most cases, but some exemptions have been announced.

FHFA said it consulted with the TARP “pay czar” to come up with packages that include a base salary as well as a performance-based incentive and deferred salary.

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New York Times drops the hammer on the ‘breathtaking arrogance’ of Kelleyanne Conway in brutal editorial

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Addressing a report from the Justice Department's Office of Legal Counsel recommending White House counsel Kellyanne Conway should be fired for flagrant violations of the Hatch Act, the New York Times editorial board hammered President Donald Trump's confidante over her smirking response.

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‘Be ashamed’: Anthony Scaramucci’s wife deletes tweet after Soledad O’Brien opens a can of whoop ass on her

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Soledad O'Brien

Soledad O'Brien, a former CNN anchor, clashed with the wife of Trump surrogate Anthony Scaramucci over the weekend.

In a tweet on Friday, O'Brien complained that cable new networks were continuing to book the former White house communications director even though he has little of substance to add to the discussions.

"Why do you guys put this crap on tv?" O'Brien wrote after seeing an interview with Scaramucci. "Seriously it’s an insult to your viewers. And also absurd. Is there no one else in the whole world to book but this mediocre dude?"

Scaramucci's wife, Deidre, was moved to criticize O'Brien.

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Sen. Tom Cotton calls for unauthorized ‘retaliatory strike’ on Iran with ‘the fire and fury of the military’

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Sen. Tom Cotton (R-AR) on Sunday called for a "retaliatory strike on Iran" after Trump administration officials alleged that the country is behind attacks on oil tankers.

"Well, Iran for 40 years has engaged in this kind of attacks, going back to 1980s," Cotton told CBS host Margaret Brennan.

"These unprovoked attacks a warrant retaliatory strikes," he added. "We can make a military response in the time and matter of our choosing."

"A retaliatory strike?" Brennan pressed. "As someone who sits in Congress, do you believe that he can act, the administration can act without coming to Congress first?"

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