对房利美(Fannie Mae)和房地美(Freddie Mac)的首席执行长们来说，圣诞节等于是提前了一天。
Christmas came a day early for the chief executive officers of Fannie Mae (FNM) and Freddie Mac (FRE), the U.S. government-controlled suppliers of funding for home mortgages.
这两家公司都是美国政府控制下的住房抵押贷款融资提供商。当地时间周四上午，它们公布了新的薪酬方案，包括奖金在内，房利美CEO威廉姆斯 (Michael Williams)和房地美CEO霍尔德曼(Charles (Ed) Haldeman)一年最多将可以拿到600万美元，远高于当前的水平。新的薪酬方案经过了美国财政部(Treasury)和监管机构联邦住房金融局 (Federal Housing Finance Agency)的批准。过去一年，为保持两家公司的运转，财政部一共向它们注入了大约1,120亿美元的资金。
The companies disclosed Thursday morning new pay packages under which Fannie CEO Michael Williams and Freddie CEO Charles (Ed) Haldeman Jr. will earn as much as $6 million a year, including bonuses, well above their current terms. The packages came with the blessing of the Treasury, which has pumped a combined total of about $112 billion of capital into the companies over the past year to keep them in operation, and the Federal Housing Finance Agency, or FHFA, which regulates the companies.
来自得克萨斯州、经常批评两家公司的共和党众议员亨萨林(Jeb Hensarling)说，在失业率接近10%的情况下，把600亿美元的奖金发放给实质上是联邦雇员的人，是不合情理的。他还批评当局在没有确定如何撤 出纳税人资金的情况下就批准了新的薪酬方案。他说，在没有任何（撤出）计划的情况下这么做，同样是不合情理的。
With unemployment near 10%, 'to be handing out $6 million bonuses to essentially federal employees is unconscionable,' said Rep. Jeb Hensarling, a Texas Republican who is a frequent critic of Fannie and Freddie. He also criticized the administration for approving the compensation without settling on a plan to remove the taxpayer supports to the companies. 'To be doing that with no plan in place is just unconscionable,' he said.
联邦住房金融局表示，相比政府2008年9月份在两家公司房贷违约数量飙升之际接管它们以前，2009年其高管薪酬下降了40%。接管两家公司 是在一种称为“托管”(conservatorship)的法律程序下进行的，允许监管机构控制公司的董事会和管理层，同时公司的普通股仍由私人股东持 有。美国财政部曾同意向两家公司最高各注资2,000亿美元，同时获得股息为10%的优先股。财政部还曾承诺将收购两家公司普通股的79.9%。
The FHFA said that on average, compensation for executive officers of the companies in 2009 is down 40% from the levels before the government seized control of them in September 2008 as defaults soared on home mortgages guaranteed by the firms. That move, under a legal process known as conservatorship, allows the regulator to control the board and management of the companies, though their common shares remain owned by private shareholders. The Treasury has agreed to supply as much as $200 billion of capital apiece to the companies in return for preferred stock paying a 10% dividend. The Treasury also has a warrant to acquire 79.9% of their common stock.
现任和前任高管们表示，由于上述安排，房利美和房地美高管的所有重大决策都要征询政府的意见。政府已将防止止赎定为两家公司的首要任务。
Because of these arrangements, the top officers of Fannie and Freddie take their cues from the government on all major decisions, current and former executives say. The government has made foreclosure-prevention efforts the top priority for Fannie and Freddie.
两家公司在提供给证券行业监管机构的报告中说，高管的薪酬全为现金。它们的股票在纽约证券交易所(New York Stock Exchange)的价格一直低于2美元，它们能不能重新盈利，或者说其普通股在长远范围内还会不会有任何价值，目前都不清楚。政策制定者才刚刚开始讨论 如何实现两家公司的转型，从而降低它们再次产生重大亏损、需要纳税人来弥补的风险。
The pay packages for top officers of the companies are entirely in cash, they said in securities filings. The companies' shares have been trading on the New York Stock Exchange at less than $2 apiece, and it isn't clear when the companies might return to profitability or whether the common shares will have any value in the long term. Policy makers are just starting to debate how to transform the companies in an attempt to reduce the risks that they could again produce heavy losses that need to be covered by taxpayers.
两家公司CEO的年度底薪为90万美元，延期支付底薪为310万美元，激励薪酬最高为200万美元。
For the CEOs, annual compensation consists of a base salary of $900,000, deferred base salary of $3.1 million and incentive pay of as much as $2 million.