Richard Syron the Chief executive of Freddie Mac reportedly ignored a memo given to him from the chief risk officer warning him that the firm was financing questionable loans. This news was released after the federal government made a decision last week to help financial giants Fannie Mae and Freddie Mac from collapsing completely.

It is also said that Mr. Syron ignored advice that the company should expand their capital cushion, and that they should slow the firm’s mortgage purchases. In both cases Mr. Syron did not take the advice give and actually steered further in the wrong direction. But Mr. Syron does not need to worry; he is sitting pretty as he has collect more than $38 million in compensation since 2003.

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