To protect the American taxpayer by prohibiting bonuses for Senior Executives at Fannie Mae and Freddie Mac while they are in conservatorship.

SA 1471. Mr. McCAIN (for himself, Mr. Rockefeller, Mr. Enzi, Mrs.
McCaskill, Mr. Johanns, Mr. Barrasso, Mr. Blunt, and Mr. Graham)
submitted an amendment intended to be proposed by him to the bill S.
2038, to prohibit Members of Congress and employees of Congress from
using nonpublic information derived from their official positions for
personal benefit, and for other purposes; which was ordered to lie on
the table; as follows:

At the appropriate place, insert the following:

SEC. __. LIMITATION ON BONUSES TO EXECUTIVES OF FANNIE MAE
AND FREDDIE MAC.

Notwithstanding any other provision in law, senior
executives at the Federal National Mortgage Association and
the Federal Home Loan Mortgage Corporation are prohibited
from receiving bonuses during any period of conservatorship
for those entities on or after the date of enactment of this
Act.
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