It has been reported that the top regulator for Fannie Mae and Freddie Mac is estimated to soon be announcing million of Dollars worth pay packages for the top management at the Government backed and operated mortgage-finance giants.

Reportedly, the Federal Housing Finance Agency gave a nod to compensation plans put forward for Fannie Chief Executive Michael Williams and Freddie CEO Charles Haldeman Jr. The earnings are expected to be in the range of $4 Million to $6 Million, and the firms are also expected to give out all the earnings details of the top management in a securities filing on Thursday.

With the announcement, which is coming on Christmas Eve, a fresh round of controversies is more than expected, with the population already questioning the large payouts that are bagged by top executives of giant managements and banks while other companies are still forced to axe jobs and pull down bonuses.

Taxpayers have injected over $100 Billion worth of funds to ensure that the economy does not collapse and can get back on its feet after being hit by one of the worst recessions that the world has ever seen, and they will not be happy for such use of their capital.

No comments from the companies involved have come in yet.