Jamie Gorelick received $779,625 in improper bonus from Fannie Mae

OFHEO ^ | September 22, 2004 | Office of Federal Housing Enterprise Oversight

[Dems_R_Losers]

Federal regulator OFHEO yesterday released a damning report on accounting irregularities at mortgage finance giant Fannie Mae. One critical finding was that in 1998, Fannie misstated expenses in order to meet earnings targets that triggered huge executive bonuses. The report states:

1998 Salary and Bonus of Senior Fannie Mae Executives

Officer Title Salary AIP Award/Bonus
James A. Johnson Chairman and CEO $966,000 $1,932,000
Franklin D. Raines Chairman and CEO Designate $526,154 $1,109,589
Lawrence M. Small President and COO $783,839 $1,108,259
Jamie Gorelick Vice-Chairman $567,000 $779,625
J. Timothy Howard EVP and CFO $395,000 $493,750
Robert J. Levin EVP, Housing and Comm. Develop. $395,000 $493,750

[billhilly]

You may think dems are losers, but those dems seem to have hit the jackpot. Is there any question as to why they want to take control of government?

For the curious, check to see how much they contributed to democrats from those salaries.

[drypowder]

Funny how, during the Clinton presidency, large companies like Enron, WorldCom, et al miss stated earnings to rip off investors and now it comes out that our own Gov under the Clinton watch miss stated financial health for personal gain (huge bonuses) thus ripping off tax payers. Not one of Clinton's cabinet members is in jail for any of this. Any bets on whether Clinton did this in Ark while Gov of that state? Also, why do Gov employees get bonuses anyway? I work for a public agency and employee bonuses are against the law.

[mewzilla]

Book'er, Dan-o.

[alrea]

now this is the kind of transfer of wealth/income that barbara streisand believes in

[backhoe]

Crosslinked:

-GORELICK GATE: Developing--

[kcvl]

At Fannie Mae, the home symbolizes who we are, too. Our public mission, and our defining goal, is to help more families(LIKE OURS) achieve the American Dream of (SCREWING LOW INCOME PEOPLE) homeownership.

We do that by providing financial products and services that make it possible for low-, moderate-, and middle-income families (TO PAY FOR OUR SALARIES AND BONUSES)to buy homes of their own. Since Fannie Mae began in 1968 we have helped more than 63 million families achieve the American Dream of homeownership (AND MAKE US RICH).

[True Capitalist]

BUMP

[conshack]

Well maybe with all that money she can go out and buy some self respect and a personality for good measure.

And maybe some plastic surgery as well.

[kcvl]

Prior to joining Fannie Mae, Mr. Johnson served as founder and president of Public Strategies, a strategic consulting firm in Washington, D.C., and worked for the Carter Administration as executive assistant to Vice President Walter Mondale.

[Diddle E. Squat]

fyi

[John Lenin]

Kerry administration ? Drop the crack pipe.

[RedEyeJack]

as in "aren't they going to haver to give it back?"

[RepublicanHippy]

I wonder how many other Clintonistas got big phony bonuses while under his administration? Probably all of them. Now that the cat is out of the bag, does she plan on paying the money back?

[Dad2Angels]

"Damn! How can I get one of those jobs!"

Sell your soul

[bvw]

The corruption, extortions, theft, bribes, graft and swag of the modern Democrat administrations have Grover Cleveland spinning 72,000 rpm in his grave. And make Tammany Hall's best look like the rankest of pikers.

[Mrs Zip]

ping

[Doomonyou]

"Righteous bucks!"

[rdl6989]

Send her to Guantanamo

[PhiKapMom]

Thanks for the ping! This is unbelieveable -- she keeps turning up everywhere and now we find out she received a bonus when she shouldn't have. How much more fraud is out there that involved Clintonites?

[Dante3]

BUMP