Skip to comments.The three Fannie Mae executives who brought down Wall Street… Where are they now?
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 Maes 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 companys board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howards 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 Johnsons 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. Johnsons Golden Parachute was estimated at $28 Million.
WHERE ARE THEY NOW?
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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!
So impressed was Barack Obama with her ability to manipulate the law that he had her on his short list to be FBI director.
And we are paying for their Lawyers!
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.
They all belong in prison.
...and she was able to cover her covering for Clinton while on the 9/11 cOmmission... thanks to W!
Jamie Gorelick: Biggest Suint of Two Centuries.
Imagine what the forum would look like if every FReeper that has a blog posted it here.
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......
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.
Apparently she's dying for hits.
Sometimes it is very hard to understand how the Democrats can even pretend to represent the common man with a straight face.
That name, GoreLick, always give me a chuckle. Probably Al too.
Maybe he couldn’t get the slow SOB to load either!!
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.
She'll be back because she's a beltway insider and no one would dare touch her.
You want to read about 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.
Gorelick is currently a lobbyist for the lending industry fighting student loan reform”
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.
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.
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.
Isn’t she also on the board of Amazon?