Now that Fannie Mae and Freddie Mac are under the control of The Federal Housing Finance Agency (FHFA), payment of as much as $24 million in severance to their fired CEOs is being stopped.

Senators had urged FHFA to eliminate bonuses for former Fannie CEO Daniel Mudd and Freddie CEO Richard Syron, citing their "failed leadership," and it looks like the political pressure combined with simple common sense got through to FHFA Director James Lockhart.

"We find it way out of line that these two executives will be rewarded with millions of dollars in bonus compensation at a time when taxpayer dollars may have to be deployed to cover any financial losses caused by errors in management," Democratic Senators Charles Schumer and Jack Reed wrote.