Vern Buchanan Rips Fannie Mae and Freddie Mac Bonuses

On Wednesday, Florida Republican U.S. Rep. Vern Buchanan ripped into the Federal Housing Finance Agencys decisions to give almost $13 million in bonuses to 10 executives at Fannie Mae and Freddie Mac.

"As someone who has been in business for 30 years, I can tell you that you don't pay bonuses to people who have failed to do their job," said Buchanan. "In this instance their failure cost the taxpayers millions and led to a massive government bailout. They have failed us. They have failed the American people."