No, GSE Execs Aren't <i>That</i> Overpaid

The White House wasn't the only one with embarrassing mistakes last week.

Sen. David Vitter, who sits on the Senate Banking Committee, sent out a press release condemning executives at Fannie Mae and Freddie Mac for paying $12.79 billion in bonuses. There was just one problem: the actual number was $12.79 million, not billion. (To be fair, Vitter's office got the number right elsewhere in the same press release.)

It's not hard to see how the mistake happened. After you've heard enough talk about the hundreds of billions spent on the bailout, or the trillions that some say are needed to save the euro zone, why sweat over a factor of one thousand?

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