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Keyword: franklinraines

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  • Donilon fought off housing regulation proposals

    10/10/2010 8:13:27 AM PDT · by Enchante · 11 replies
    AP ^ | 10/09/10 | Pete Yost
    The second person, a former housing industry executive intimately familiar with of Fannie Mae's operations, agreed that Donilon was at the head of an unceasing anti-regulatory campaign that the company waged throughout his tenure. The former housing executive said that on political issues, especially regulatory oversight, Donilon was the right-hand man to Fannie Mae chairman and CEO Franklin Raines.
  • Former Clinton Official Paid $26 Million by Fannie Mae Before Taxpayer Bailout Now on Obama...

    03/23/2011 3:47:37 PM PDT · by Nachum · 34 replies
    CNS News ^ | 3/23/11 | Chris Neefus
    (CNSNews.com) –Jamie Gorelick, a former Clinton administration official who has reportedly made the Obama administration's to become considering the next director of the Federal Bureau of Investigation (FBI), was paid more than $26 million in total compensation as a top executive at Fannie Mae--before taxpayers had to bail out the mortgage giant. Gorelick, who left the Clinton Justice Department in 1997 to work for Fannie Mae CEO Franklin Raines, was paid $26,466,834 in salary, bonuses, performance pay and stock options from 1998 to 2003, according to the Report of the Special Examination of Fannie Mae (2006), conducted by the Office...
  • Carbon Trade Ends on Quiet Death of Chicago Climate Exchange

    11/07/2010 9:34:59 PM PST · by Ernest_at_the_Beach · 84 replies
    suite101.com ^ | Nov 7, 2010 | John O'Sullivan
    Republican mid-term election joy deals financial uncertainty among green investors as the Chicago Climate Exchange announces the end of U.S. carbon trading. The Chicago Climate Exchange (CCX) announced on October 21, 2010 that it will cease carbon trading this year. However, Steve Milloy reporting on Pajamasmedia.com (November 6, 2010) finds this huge story strangely unreported by the mainstream media.To some key analysts the collapse of the CCX appears to show that international carbon trading is “dying a quiet death.” Yet Milloy finds that such a major business failure has drawn no interest at all from the mainstream media. Milloy noted...
  • Insider Patenting: How Fannie Mae Chief Got the Patent for Cap and Trade in 2006(Corruption)

    05/29/2010 1:19:33 PM PDT · by day21221 · 39 replies · 919+ views
    biggovernment.com ^ | May 28, 2010 | John Bambenek
    Just one day after the Democrats seized control of Congress, the Chief Executive of Fannie Mae, Franklin Raines, received the patent for a residential cap-and-trade system (Patent 6904336), What this means is that Raines, along with several colleagues who also “own” the patent, could stand to make huge amounts of money if the cap-and-trade regime was ever brought to the residential marketplace. What does this have to do with Fannie Mae? Absolutely nothing. To understand the implications, a little discussion about patenting is needed. Patents are basically “ownership” rights to an invention. If you invent something, you can license it...
  • Disgraced Fannie Mae deep in carbon scheme

    06/26/2010 10:55:50 AM PDT · by opentalk · 15 replies · 1+ views
    wnd ^ | Jerome R. Corsi
    With the Obama administration pushing for cap-and-trade legislation, former Clinton and Obama adviser Franklin Raines has positioned the government-sponsored mortgage giant Fannie Mae to make millions by selling carbon credits from American homes. Two patents applied for by Raines as one of several "co-inventors" – Nos. 6904336 and 7133750 – create a "method for identifying, quantifying, and aggregating reductions in residential emissions into a tradable commodity." The patents are identically titled "System and Method for Residential Emissions Trading." The idea appears to be for Fannie Mae to create "Collateralized Carbon Obligations," or CCOs, by utilizing a methodology similar to its...
  • Glenn Beck- The Fannie Mae Patent You Should Know About..

    06/18/2010 2:49:36 PM PDT · by amabokcarab · 33 replies · 1,019+ views
    YouTube ^ | June 17, 2010 | Glenn Beck
    Why does Fannie Mae, a government mortgage finance company, have a patent on a device that would allow the government to turn off the energy in your home whenever they want to? The device is put into the outlets in your home and cannot be removed without a special device. Love him or hate him, Glenn Beck and his staff have possibly uncovered something big with this..if cap-and-trade passes, this could be what is coming our way..Among those helping with this investigation is Congressman Jason Chaffetz (R-UT) http://www.youtube.com/watch?v=xvM4tjNnQIo
  • Guess who holds patent for carbon trading plan

    06/18/2010 10:35:41 AM PDT · by day21221 · 23 replies · 1,063+ views
    wnd.com/ ^ | June 18, 2010 | Jerome R. Corsi
    Guess who holds patent for carbon trading plan Disgraced Fannie Mae CEO set to cash in for millions Obama housing adviser Franklin Raines Former Clinton and Obama budget adviser Franklin Raines owns a key carbon-emissions patent he developed as CEO of the government-sponsored mortgage giant Fannie Mae, positioning him and his partners to make millions of dollars if it is used in any carbon-capping scheme implemented by the Obama administration. Raines and his associates led Fannie Mae and Congress to believe Fannie Mae owned the patent, despite public records to the contrary, a WND investigation has found. Raines and his...
  • Barbara Hollingsworth: Fannie Mae owns patent on residential 'cap and trade' exchange

    04/21/2010 9:10:40 PM PDT · by givemELL · 61 replies · 1,539+ views
    The Examiner ^ | April 20, 2010 | Barbara Hollingsworth
    Fannie Mae Chief Executive Officer Franklin Raines, two of his top underlings and select individuals in the "green" movement were inventing a patented system to trade residential carbon credits. Patent No. 6904336 was approved by the U.S. Patent and Trade Office on Nov. 7, 2006 -- the day after Democrats took control of Congress. Former Sen. John Sununu, R-N.H., criticized the award at the time, pointing out that it had "nothing to do with Fannie Mae's charter, nothing to do with making mortgages more affordable." "It wasn't about mortgages. It was about greenbacks. The patent, which Fannie Mae confirmed it...
  • We Know About Soros — But Who Is Maurice Strong?

    05/24/2010 7:10:46 AM PDT · by opentalk · 22 replies · 1,178+ views
    Pajamas Media ^ | May 24th, 2010 | Ed Lasky
    Canadian mogul and avowed socialist Maurice Strong manipulates governments to benefit his "green" portfolio and those of his friends: George Soros, Ted Turner, Al Gore, and China. Intercontinental Exchange has agreed to purchase the parent company of the Chicago Climate Exchange, the preeminent market for trading carbon credits. This is a market that exists solely to capitalize on possible federal legislation that would mandate reduced greenhouse gas emissions or the purchase of “pollution credits.” Politicians created this market out of thin air by fiat, and not surprisingly, cronies of these politicians will be the beneficiaries. These climate change profiteers include...
  • System and method for residential emissions trading

    05/02/2010 4:08:18 PM PDT · by DBCJR · 22 replies · 601+ views
    Google ^ | Franklin D. Raines et al
    The present invention is directed to a method of residential emissions trading and a residential emissions trading commodity. In particular, an embodiment of the present invention is a method for identifying, quantifying, and aggregating reductions in residential emissions into a tradable... Inventors: Franklin D. Raines, Robert J. Sahadi, Kenneth Berlin, Michelle Desiderio, Scott Lesmes, Elizabeth Arner Cavey, Carlton Bartels, Jane Bartels What is claimed is: 1. A method for providing a residential emissions trading program, comprising the steps of: identifying an energy savings opportunity in a residential property; quantifying an emissions reduction produced by the energy savings opportunity; and aggregating...
  • The Cause of the 2008 Mortgage Crash

    05/01/2010 9:15:09 AM PDT · by Johnny_Longtorso · 17 replies · 535+ views
    Limited modified Hangout ^ | 2/6/2010 | Johnny Longtorso
    ...In early 2005, largely at the behest of the banking sector, the Office of Thrift Supervision implemented new rules that were widely perceived as weakening the CRA. Supervision of banks with under $1 billion in assets was loosened, and larger banks were allowed to voluntarily reduce the amount of regulator scrutiny of their "investment" and "service"-two long-standing categories of assessment under the CRA. This had two unintended consequences that would later prove to be very costly. In the first place, it increased CRA scrutiny of larger banks, who were now the main focus of regulators. This put even more pressure...
  • Glenn Beck vs. Joel Rogers, King of the Progressives

    04/30/2010 9:10:14 AM PDT · by ConjunctionJunction · 96 replies · 2,580+ views
    Right Pundits ^ | April 29th, 2010 | Andrew Zarowny
    Glenn Beck vs. Joel Rogers, King of the Progressives If Fox News commentator, Glenn Beck is right, Joel Rogers may be the man behind Obama and the entire Progressive Movement. Not a far stretch as Progressives got their start in Wisconsin, where Joel teaches law, political science and sociology at the University of Wisconsin. Thursday morning, Joel was a featured speaker at an Earth Day conference in Chicago on public transportation. Needless to say, he’s all for it! But Beck has connected the dots on his magic blackboards (He needs about three or four now, at least!) as he ties...
  • The $10 Trillion Climate Fraud

    04/28/2010 5:50:50 PM PDT · by raptor22 · 33 replies · 1,227+ views
    Investors.com ^ | April 28, 2010 | INVESTOR'S BUSINESS DAILY Staff
    Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a climate trading scheme being run out of the Chicago Climate Exchange would make Bernie Madoff blush. Its trail leads to the White House. Lost in the recent headlines was Al Gore's appearance Monday in Denver at the annual meeting of the Council of Foundations, an association of the nation's philanthropic leaders. "Time's running out (on climate change)," Gore told them. "We have to get our act together. You have a unique role in getting our act together." Gore was right that foundations will play a key role in keeping the...
  • Harry Reid Implies Radio Host is Racist for Tying Fannie Mae Exec to Obama (flashback)

    01/10/2010 8:51:46 AM PST · by TornadoAlley3 · 15 replies · 1,297+ views
    KXNT-AM radio/Breitbart ^ | 10/09/08 | KXNT-AM radio/Breitbart
    "[Franklin] Raines, who you're talking about, worked for Fannie Mae, was there for a while. The only connection that people could bring up about Raines and Barack Obama is they both are African-American, other than that there is nothing." audio @ link.
  • Fannie / Freddie - What Does Treasury Know?

    12/25/2009 7:30:21 PM PST · by blam · 17 replies · 1,601+ views
    Seeking Alpha ^ | 12-25-2009 | Karl Denninger
    Fannie / Freddie - What Does Treasury Know? by: Karl DenningerDecember 25, 2009 On Christmas Eve one would think you could have a nice evening with your family. Little did I know what Timmy Geithner had up his sleeve: The two companies, the largest sources of mortgage financing in the U.S., are currently under government conservatorship and have caps of $200 billion each on backstop capital from the Treasury. Under the new agreement announced today, these limits can rise as needed to cover net worth losses through 2012. I see. But I thought housing was getting better? That's what I...
  • The CRA and Key Players

    09/27/2008 10:08:08 AM PDT · by hiredhand · 54 replies · 3,831+ views
    Various ^ | 27 Sep 2008 | Self
    The Subprime home mortgage collapse...a Primer. It's ALL about the CRA of 1977 Community Reinvestment Act (CRA) of 1977 - This required banks to offer credit throughout their entire market area for “underserved” populations and small businesses. The CRA gave incentives to help low income borrowers become “home owners”. Liberals call this group “low income borrowers”. Conservatives call them a RISK!The CRA was passed by the Carter administration. In 1995 the Clinton administration authorized subprime loans under the CRA. Democrats added these provisions for the securitization of subprime loans and then ENFORCED the lending to high risk individuals. By 2000,...
  • Fannie Mae Eases Credit To Aid Mortgage Lending ( 1999 affirmative action in lending)

    02/28/2009 4:07:54 PM PST · by dascallie · 6 replies · 1,207+ views
    Fannie Mae Eases Credit To Aid Mortgage Lending The New York Times STEVEN A. HOLMES Published: September 30, 1999 In a move that could help increase home ownership rates among minorities and low-income consumers, Fannie Mae is easing credit requirements on loans that it will purchase from banks and other lenders. The action will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people ''Fannie Mae has expanded...
  • The Democrat Party Is A Criminal Enterprise

    02/08/2009 8:59:20 PM PST · by ElKafir · 13 replies · 825+ views
    Transsylvania Phoenix ^ | Transsylvania Phoenix
    Next time when your liberal friend / relative* starts whining about how Bush economic policies caused the financial meltdown and how Obama will save America with his GigaPork stimulomarxist package, hit him back hard with this video. Read on
  • THE DEMS' 'POLICE' NEED POLICING (Dodd, Frank & gang - still no investigation of the perps)

    01/11/2009 11:20:56 AM PST · by Libloather · 16 replies · 1,172+ views
    NY Post ^ | 1/08/09 | Victor Davis Hanson
    <p>Sen. Chris Dodd (D-Conn.) simply can't tell the whole truth about his cut-rate, quid pro quo mortgage deals.</p> <p>The taped exchanges between Rep. Barney Frank (D-Mass.) and Franklin Raines in the 2004 House financial-oversight hearings are metaphors for the entire subprime crisis.</p>
  • Stop Covering Up And Kill The CRA

    11/28/2008 5:45:34 PM PST · by Kaslin · 35 replies · 1,211+ views
    IBD Editorials ^ | November 28, 2008
    Regulation: The Community Reinvestment Act is to blame for the financial crisis, but it so powerfully serves Democrats' interests that they'll do anything to protect it — including revising history.The CRA coerces banks into making loans based on political correctness, and little else, to people who can't afford them. Enforced like never before by the Clinton administration, the regulation destroyed credit standards across the mortgage industry, created the subprime market, and caused the housing bubble that has now burst and left us with the worst housing and banking crises since the Great Depression. The CRA should be abolished, along with...