Where are they now????
The three who brought down Wall Street.
Here's a quick look into the three former Fannie Mae executives who brought down Wall Street.
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 Mae's 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 company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and
Howard resigned under pressure in late 2004. Howard's 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 Johnson's 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. Johnson's Golden Parachute was estimated at $28 Million.
WHERE ARE THEY NOW?
Raines works for the Obama Campaign as his Chief Economic Advisor.
Howard is a Chief Economic Advisor to Obama under Franklin Raines.
Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.
Now we hear that Rep. Barney Frank is retiring with full benefits from Congress after his roll in assisting in this housing market fraud. We also learn that he is seeking an appointment as Sec. of Housing! YIKES!
Kinda makes you sick to your stomach.
Our government seems to be rotten to the core !
Are we stupid or what? Vote and support only Constitutional Canditates in 2012..it is the most important election of our lives...
NEVER, NEVER VOTE FOR AN INCUMBENT UNLESS YOU KNOW AND AGREE WITH THEIR VOTING RECORD