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To: Sub-Driver

The CEO resigned last week too. But only after receiving millions in bonuses.


5 posted on 11/08/2011 4:59:31 PM PST by mojito
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To: mojito
The CEO resigned last week too.

No, that was the CEO of Freddie Mac, not Fannie Mae.

7 posted on 11/08/2011 5:07:27 PM PST by rabscuttle385 (Live Free or Die)
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To: mojito
The CEO resigned last week too. But only after receiving millions in bonuses.

I suggest you and I get a turn at being CEO of Fannie Mae. Whiskey Tango Foxtrot. I'll even let you go first.

8 posted on 11/08/2011 5:08:24 PM PST by bigheadfred (wogga wogga)
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To: mojito

Video: Comparing Fannie/Freddie to Enron/Worldcom/Tyco

10/02/2008

http://www.freerepublic.com/focus/f-news/2096030/posts

•Bernard Ebbers, Worldcom: 25 years in prison
•Ken Lay, Enron: Convicted on 10 counts, died before serving sentence
•Jeff Skilling, Enron: 24 years in prison
•Andrew Fastow, Enron: 10 years in prison
•Dennis Koslowski, Tyco: 8 years in prison
•Mark Schwartz, Tyco: 8 years in prison

So how about the officers of Fannie Mae, who conducted similar kinds of fraud in their financial statements in order to pad bonuses and keep regulators from discovering their precarious position until it was too late? Franklin Raines never faced criminal charges, and instead settled a civil suit with a $2 million payoff — which came from Fannie Mae’s insurance company. Jim Johnson didn’t even have to do that much.

And where are they now? The Washington Post reported twice that Raines was advising the Barack Obama campaign, although they denied it. Jim Johnson still advises the Obama campaign and had briefly led the search for a running mate. Supposedly the FBI has begun a criminal probe into the actions of Fannie Mae management over the years, but we’ll see if that proceeds.


14 posted on 11/08/2011 6:35:46 PM PST by WOBBLY BOB (See ya later, debt inflator ! Gone in 4 (2012))
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