The company that lost over 110 billion dollars this last year has deemed it necessary to give bonuses to employees. Fannie Mae and Freddie Mac the two mortgage-financing giants that the government rescued last fall, have outlined plans to pay an additional $159 million in bonuses to retain employees in 2009 and 2010, on top of the nearly $51 million already paid out last year.

Although they have lost a record amount of money, they argue that there decisions are sound and necessary. “Mr. Lockhart who is from the Office of Federal Housing Enterprise Oversight, which now oversees the two companies, in his letter, defended the bonuses as necessary for protecting the taxpayers’ investment.”

It’s nice to see they are helping the right people.

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