Monday, April 9, 2012

Where are they now

Thanks to Walter, I am sure we will see these fact in a future re-election commercial for the president

           Where are Jim, Tim, and  Franklin now?
            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.


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.

Kinda makes you sick to your stomach.
Our government  seems to be rotten to the core !
Are we stupid or what? Vote in  2012..
It is the most important election of our  lives...

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