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WHERE ARE THEY NOW?
The three men who brought down Wall Street.
Here's a quick look into the threeformer Fannie Mae executives who
brought down Wall Street.
Franklin Raines was a Chairman and Chief Executive Officer at FannieMae.
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 $240Million 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 didmanipulate 1998 earnings to trigger bonuses.
Raines and Howard resigned under pressure in late 2004. Howard'sGolden 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 1998compensation
from the public, reporting that it was between $6 million and $7million when in fact it was $21 million." Johnson is currently underinvestigation for taking illegal loans from Countrywide while serving as CEO ofFannie Mae.
Johnson's Golden Parachute was estimated at $28 Million.
WHERE ARETHEY NOW?
FRANKLIN RAINES?
Raines works for the Obama Campaign ashis 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.
Are we stupid or what? Vote in 2012..it is the most important election of our lives...
The three men who brought down Wall Street.
Here's a quick look into the threeformer Fannie Mae executives who
brought down Wall Street.
Franklin Raines was a Chairman and Chief Executive Officer at FannieMae.
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 $240Million 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 didmanipulate 1998 earnings to trigger bonuses.
Raines and Howard resigned under pressure in late 2004. Howard'sGolden 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 1998compensation
from the public, reporting that it was between $6 million and $7million when in fact it was $21 million." Johnson is currently underinvestigation for taking illegal loans from Countrywide while serving as CEO ofFannie Mae.
Johnson's Golden Parachute was estimated at $28 Million.
WHERE ARETHEY NOW?
FRANKLIN RAINES?
Raines works for the Obama Campaign ashis 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.
Are we stupid or what? Vote in 2012..it is the most important election of our lives...