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Washington
Inside Washington (12/28/2009)
* WASHINGTON (12/29/09)--Several top executives from the nation’s biggest banks will testify before the Financial Crisis Inquiry Commission next month about their roles during the economic crisis (American Banker Dec. 28). Scheduled to testify include Jamie Dimon, chairman/CEO of JPMorgan Chase and Co.; John Mack, chairman of Morgan Stanley; and Lloyd Blankfein, chairman/CEO of Goldman Sachs. Brian Moynihan, who will become CEO of Bank of America Jan. 1, has not confirmed his appearance. The commission was formed to determine the causes of the nation’s financial crisis and will hold several hearings throughout 2010 ... * WASHINGTON (12/29/09)--The Federal Housing Finance Agency Thursday announced that it is curbing executive compensation at Fannie Mae and Freddie Mac. Average pay at the enterprises will be 40% less than before Fannie and Freddie entered into conservatorship, the agency said. Beginning Jan. 1, base salary for executive officers will not exceed $500,000 a year, except for five positions including the enterprises’ CEOs and chief financial officers plus the chief operating officer of Freddie Mac. Before the enterprises were placed into conservatorship, 16 employees had salaries above $500,000 ...


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