Departing Frannie chiefs got paydays, but not parachutes

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The WSJ, on the Federal Housing Finance Agency’s decision on severance packages of Fannie Mae’s Daniel Mudd and Freddie Richard Syron:

Mr. Mudd’s pension and 401k plan has an estimated current value of $5.6 million, the official said, and for Mr. Syron the figure is $4 million. But the FHFA won’t allow additional severance payments of about $2.3 million that could have gone to Mr. Mudd and $10.3 million for Mr. Syron.

That seems pretty fair. Should we put the FHFA in charge of executive paychecks at all financial institutions?