**** *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?***** **** *FRANKLIN RAINES*?**** Raines works for the *Obama *Campaign as his Chief Economic Advisor.**** **** *TIM HOWARD?***** Howard is a Chief Economic Advisor to *Obama* under Franklin Raines.**** **** JIM JOHNSON?**** 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...**** **** -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more.
