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Freddie CEO earns $19.8 million
** FILE ** This July 13, 2008 file photo shows the Freddie Mac Corporate Office in McLean, Va. For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect, their financial empires by invoking the political sacred cow of homeownership and fielding an army of lobbyists, power brokers and political contributors. Now, new attention is being focused on the bruised mortgage companies as the Bush administration presses its rescue plan to Congress. (AP Photo/Pablo Martinez Monsivais, File)
Photo by Joseph A. Garcia / Star staff Simi Valley 07/18/2008: Exterior of a Simi Valley Starbucks Coffee store, which is the only store in Ventura County to be closed by Starbucks Corp. Starbucks has made plans to close 600 stores in a bid to boost its business.
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More from BusinessNEW YORK — Freddie Mac Chairman and Chief Executive Richard Syron pocketed nearly $19.8 million in compensation last year, according to a Securities and Exchange Commission filing Friday, even though the mortgage company's stock lost half its value.
If Syron stays at the helm through the end of next year, he will receive nearly $20 million in stock awards if the board says he has met certain goals.
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