When the feds had to take over failing mortgage giants Fannie Mae and Freddie Mac, the two CEOs of those companies were in line to receive big bonuses for the year.

A total of $24 million for the pair, as a matter of fact—$24 million for heading up companies that had to be bailed out by the people’s purse.

House and Senate members, both Democrat and Republican, were outraged when this news came out. Despite the fact that some had enjoyed the largesse of Fannie’s and Freddie’s lobbyists and campaign contributions.

Last week, though, the Federal Housing Financ...

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