When is Franklin Raines going to return his $90 million take from Fannie Mae? As Google helpfully states, “All told, Raines pulled in some $90 million between 1998 and 2003, the majority from bonuses. And when OFHEO (the regulating agency) began to ask uncomfortable questions, Raines actively lobbied Congress to cut its funding.” That’s the answer to BO’s childish faith in government regulations.
Franklin Raines will get a pass—no one wants to investigate his role because he’d be accused of racism.