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The three Fannie Mae executives who brought down Wall Street… Where are they now?
American Freedom ^

Posted on 02/26/2012 3:19:04 PM PST by usamericanfreedom.com

Franklin Raines – was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae’s accounting activities. Raines left with a “golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear.

Tim Howard – was the Chief Financial Officer of Fannie Mae. Howard “was a strong internal proponent of using accounting strategies that would ensure a ”stable pattern of earnings” at Fannie. Investigations by federal regulators and the company’s board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard’s Golden Parachute was estimated at $20 Million!

Jim Johnson – A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.” Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson’s Golden Parachute was estimated at $28 Million.

WHERE ARE THEY NOW?

(Excerpt) Read more at usamericanfreedom.com ...


TOPICS: Politics
KEYWORDS: fanniemae; obama; wallstreet

1 posted on 02/26/2012 3:19:14 PM PST by usamericanfreedom.com
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To: usamericanfreedom.com

Hey, they work for Obama now. Crooks all stick together. This is like one of Al’s getting out of prison and coming back to Chicago and picking up right where he left off. The entire bunch are crooks and 50% of America is stupid to that fact!


2 posted on 02/26/2012 3:23:49 PM PST by RetiredArmy (POLITICIANS: Promise the moon. Deliver the shaft.)
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To: usamericanfreedom.com

Let's not forget Jamie Gorelick who was rewarded with a Fannie Mae job after providing cover for Clinton during his administration. While at Fannie, she wrote new regulations for both sub prime loan bundling and executive bonuses. She took advantage of both with a sweet heart deal on a home loan for her mansion and also collected $26 MILLION for her short time there.

So impressed was Barack Obama with her ability to manipulate the law that he had her on his short list to be FBI director.

3 posted on 02/26/2012 3:26:28 PM PST by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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To: usamericanfreedom.com
LOL, that old german will never die.
4 posted on 02/26/2012 3:28:48 PM PST by org.whodat (L)
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To: usamericanfreedom.com

And we are paying for their Lawyers!


5 posted on 02/26/2012 3:36:41 PM PST by victim soul
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To: usamericanfreedom.com

If you want “real” corruption, let a government manage your money.

But no one cares. This isn’t news. Americans today are no different than Europeans, chasing a free lunch promised to them by politicians that are scamming them out of their money and freedom in return for this lie.


6 posted on 02/26/2012 3:37:45 PM PST by Red6
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To: usamericanfreedom.com
It's your blog, so why not post the complete article?

Poor taste...

7 posted on 02/26/2012 3:39:55 PM PST by ErnBatavia (Carterize Obama in November)
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To: victim soul

They all belong in prison.


8 posted on 02/26/2012 3:42:33 PM PST by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: Baynative

...and she was able to cover her covering for Clinton while on the 9/11 cOmmission... thanks to W!


9 posted on 02/26/2012 3:45:22 PM PST by Roccus
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To: Baynative

Jamie Gorelick: Biggest Suint of Two Centuries.


10 posted on 02/26/2012 3:49:38 PM PST by 2nd Bn, 11th Mar (The "p" in Democrat stands for patriotism.)
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To: usamericanfreedom.com
Welcome to Free Republic.


Imagine what the forum would look like if every FReeper that has a blog posted it here.

11 posted on 02/26/2012 3:49:38 PM PST by upchuck ("The heart of the wise inclines to the right, but the heart of the fool to the left." Ecclas. 10:2)
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To: usamericanfreedom.com

Don’t forget Henry Cisneros and Andrew Cuomo who as HUD secretaries pushed Freddie and Fannie into upping the percentage of junk mortgage loans they bought to fifty percent, thereby loading their portfolios with worthless paper that the taxpayer is still paying for - Cisneros is who knows where, but I think Cuomo was rewarded for his stupidity with election to the governorship of New York - and they think they’re so sophisticated there......


12 posted on 02/26/2012 3:49:52 PM PST by Intolerant in NJ
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To: usamericanfreedom.com

I agree that those few who brought us to our knees have benefited big time.

Some were GSEs such as FRE and others were shareowner entities owned by the greedy banksters who screwed us such as AIG, Goldman Sachs and JP Morgan and a bunch of others. They need to be added to the list.

Greed is good if it leads to poverty for those who took risk and lost. If not it harms any philosophy of capitalism. In this case the public both lost and paid and the banksters got rich.

I’ve been waiting for my thank you note from these bxxxards like Blankfein because our taxes saved them billions. GS and JPM common stock should have been worth nothing.

Those that caused this boondoggle were rewarded and those that didn’t, and were never in debt, such as many fiscally conservatives paid.

Now their good buddy Bernanke is attempting to force us to put our wealth into the Wall St casino to enrich the same thieves again.


13 posted on 02/26/2012 3:52:36 PM PST by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: ErnBatavia; usamericanfreedom.com
It's your blog, so why not post the complete article?

Apparently she's dying for hits.

Poor taste...

Agreed.

14 posted on 02/26/2012 3:53:06 PM PST by upchuck ("The heart of the wise inclines to the right, but the heart of the fool to the left." Ecclas. 10:2)
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To: usamericanfreedom.com

Sometimes it is very hard to understand how the Democrats can even pretend to represent the common man with a straight face.


15 posted on 02/26/2012 4:09:44 PM PST by dog breath
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To: Baynative

That name, GoreLick, always give me a chuckle. Probably Al too.


16 posted on 02/26/2012 5:04:02 PM PST by X-spurt (Its time for ON YOUR FEET or on your knees)
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To: ErnBatavia

Maybe he couldn’t get the slow SOB to load either!!


17 posted on 02/26/2012 5:05:59 PM PST by X-spurt (Its time for ON YOUR FEET or on your knees)
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To: Baynative

You beat me to it. Gorelick screwed up EVERYTHING she has touched. She was also directly responsible for the “wall” that prevented the CIA and FBI from coordinating investigations to possibly prevent 911.


18 posted on 02/26/2012 5:19:10 PM PST by Servant of the Cross (the Truth will set you free)
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To: Servant of the Cross
It wasn't that she screwed things up - her job was to provide a shield and rewrite the regulations so that the felons in the government could profit. She is a gangster rainmaker, who is no different than a mafia wise guy. She is brought in to strong arm the law and loot the treasury. She has proved very capable at what she does and she'll be back.

She'll be back because she's a beltway insider and no one would dare touch her.

19 posted on 02/26/2012 7:15:30 PM PST by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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To: Baynative

You want to read about Gorelick?

https://en.wikipedia.org/wiki/Jamie_Gorelick

“While serving as Deputy Attorney General under Bill Clinton, Gorelick spoke in favor of banning the use of strong encryption and called for a key escrow system to allow the Federal government access to encrypted communication.[5]

Gorelick is currently a lobbyist for the lending industry fighting student loan reform[6]”

In other words she proposed invading the right of privacy of all American citizens (not terrorists) and now lobbies for the same banker thieves who have created the next bubble and was a major force involved with the success of 9-11.

She’s an example of the special club that is behind America losing what it once had.....liberty, freedom, ethics and financial responsibility.


20 posted on 02/26/2012 7:55:34 PM PST by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: apoliticalone
She’s an example of the special club that is behind America losing what it once had.....liberty, freedom, ethics and financial responsibility.

An example of the professional parasite who prosper when government goes into areas where it has no business being!

She is one of thousands who have become fabulously wealthy just by legally stealing taxpayer money.

I'd love to find a law she broke to put her in prison, but she probably hasn't broke any.

That sucks. But that's what we have gone to. She helps write the laws, knows every damn loophole, and then cashes in on those same loopholes.

Liberty, freedom, ethics and financial responsibility... she does not give a rat's ass about any of that stuff. It's all about how much cash she can get.

Like I said... she is just one of thousands who do this same crap. Washington is loaded with them.

Maybe they will find their punishment in Hell, but they ain't going to be punished here. Just the way it is.

21 posted on 02/26/2012 8:24:32 PM PST by Ditto (Nov 2, 2010 -- Partial cleaning accomplished. More trash to remove in 2012)
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To: apoliticalone
"She’s an example of the special club that is behind America losing what it once had.....liberty, freedom, ethics and financial responsibility."

We have allowed for an environment where open looting at the highest levels of the government goes unpunished. A couple of weeks ago there was big noises about a bill to outlaw insider trading by congress. That buzz died quickly.

22 posted on 02/27/2012 7:01:02 AM PST by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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To: apoliticalone

Isn’t she also on the board of Amazon?


23 posted on 02/27/2012 8:40:27 AM PST by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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