Jim - Tim - Frank - Ever Heard Of These Guys?

[Brisco]

If Not.....You should really learn who these guys are, and the roles they played in the Fannie Mae financial crisis.....

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.


But......this gets even Deeeeeper.

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.



Pretty Interesting..............IMO.

 

[davekc]

No surprise there. That is why Barny Frank said EVERYTHING is ok at Fanny & Freddie.
Notice he retired/forced out as well.
But of course, I am sure they were forced to make bad decisions because of Bush.

 

[21cExp]

Umm, this is actually hogwash and has been debunked for a long time:
Three Men Who Brought Down Wall Street - Urban Legends

http://www.snopes.com/politics/obama/fanniemae.asp

http://en.m.wikipedia.org/wiki/Franklin_Raines

 

[Turtle]

It can't be hogwash. I read it on the Internet, and I believe everything on the Internet because it's true. I'm also easily hornswaggled.

 

[davekc]

Good find. I was only aware of the Barney disasters.

 

[21cExp]

Accepting hogwash and being hornswaggled leads to boondoggles

 

[layoutshooter]

Accepting hogwash and being hornswaggled leads to boondoggles

Sure is. That is EXACTLY why and how we ended up with Obama and all those other criminals we call politicians. THIS election, whether we elect O'Romney or RomBama the result will be the same.

 

[purgoose10]

It can't be hogwash. I read it on the Internet, and I believe everything on the Internet because it's true. I'm also easily hornswaggled.

Thankyou, thankyou yeh the internet, omg what would we do w/out the internet. Oh wait we wouldn't be on EO now. Thankyou Walter for inventing the internet.

 

[bobwg]

Umm, this is actually hogwash and has been debunked for a long time:
Three Men Who Brought Down Wall Street - Urban Legends

snopes.com: Obama's Fannie Mae Economic Advisors

Franklin Raines - Wikipedia, the free encyclopedia

While it debunks connections to Obama it does not debunk they were part of the problem that led to the housing collapse

 

[21cExp]

No, of course it doesn't. Nor does it debunk the millions they walked away with.

The point of the original post was not that they were part of the problem, but to tie it all to Obama in a negative way. Which has been well known as hogwash since it was first spread as a blatant falsehood in 2008.

Whether folks are on one side or the other in current politics, spreading false info as truth just encourages others to spread it, believe it, and spout off in negativity, fostering a further and greater misunderstanding of what the real issues are.

While it debunks connections to Obama it does not debunk they were part of the problem that led to the housing collapse

 

[Brisco]

No, of course it doesn't. Nor does it debunk the millions they walked away with.

And that issue, the MILLIONS they walked away with, has not been debunked.

The point of the original post was not that they were part of the problem, but to tie it all to Obama in a negative way. Which has been well known as hogwash since it was first spread as a blatant falsehood in 2008.

Well of course the whole intent of the original post was to make Obawa look bad and to present it in a negative way........BUT, there's a whole LOT more out there than this falsehood that is doing the job just fine.......as in Obawa himself.

Whether folks are on one side or the other in current politics, spreading false info as truth just encourages others to spread it, believe it, and spout off in negativity, fostering a further and greater misunderstanding of what the real issues are.

Just put the original playbook in action that the Democrats created back when Gore tried to steal the Election from Bush by publishing false stuff online everywhere they could.........

Honestly, I had not seen this back in 2008. It wasn't sent to me in an e-mail either. I did read it online somewhere, and there were quite a few comments over it. Nobody debunked it where I ran across it at either.......I do see that it has been debunked though.........

No apologies offered............Obawa has done enough harm to this country to apologize for anything that puts him a "Negative Light", whether it be False or not.

 

[Turtle]

As has been noted many times, Obama does enough real, actual stuff on his own without people having to make stuff up about him.

Nevertheless, it amazes me how some people can be so ambivalent about the truth, and the unapologetic spreading of lies.

 

[Brisco]

Nevertheless, it amazes me how some people can be so ambivalent about the truth, and the unapologetic spreading of lies.

How I feel or what I think about Obawa will never change.............He's done enough damage to this country for me to ever change my attitude towards him.

As far as the unapologetic spreading of lies.......Didn't know this was False until today.....so it wasn't perceived as a lie when I first posted it.

Therefore......I aint apologizing for yada yada yada................Screw 'Em.

 

[Turtle]

Actually, I was talking about the yahoo that originally penned that thing, and those like him who work so hard to make up stuff, not you. I don't blame you for spreading lies at all. Just being gullible and duped.

Incidentally, this is the third time that same thing has been posted to EO over the years. So you're not alone in that. Seems a lot of people are easily duped.

 

[Moot]

Whether folks are on one side or the other in current politics, spreading false info as truth just encourages others to spread it, believe it, and spout off in negativity, fostering a further and greater misunderstanding of what the real issues are.

Amen! This is probably the most relevant and accurate statement ever to appear on the Soapbox Forum! Thank you!

 

[Pilgrim]

While it debunks connections to Obama it does not debunk they were part of the problem that led to the housing collapse

Raines actually had a connection to Bill Clinton - he was Slick Willie's White House Budget Director.

 

[21cExp]

Amen! This is probably the most relevant and accurate statement ever to appear on the Soapbox Forum! Thank you!

You're welcome, and thank you for thinking so.

 

[aristotle]

No, of course it doesn't. Nor does it debunk the millions they walked away with.

The point of the original post was not that they were part of the problem, but to tie it all to Obama in a negative way. Which has been well known as hogwash since it was first spread as a blatant falsehood in 2008.

Whether folks are on one side or the other in current politics, spreading false info as truth just encourages others to spread it, believe it, and spout off in negativity, fostering a further and greater misunderstanding of what the real issues are.

21c.... would you be so kind as to explain the "misunderstanding of what the real issues are" ???

This "misunderstanding" of issues perplexes me. I submit the American people know exactly what is at stake in this election. If you have the time and inclination, please enumerate the misunderstood issues so we may address them, Stewart.

 

[EASYTRADER]

The sad fact is as Romney has finally pointed out, 47 percent of americans are freeloading bums. There is no point in blaming Obama for a state of affairs that was put in place long before he was in politics.

In the last 100 years there has been only 1 president who was not a socialist, Calvin Coolidge. The rest have been elected while proclaiming various degrees of free crap for the people. It a sad state of affairs, but the fact is half the people are dishonest freeloading bums, and in a 50 50 election they willeventually win though slowly because in every polical compromise, they gain more frre crap while we gain nothing.

Obama will get reelected becuase the people want free stuff, its justthat simple.

Sent from my GT-P3113 using EO Forums

 

[OntarioVanMan]

The sad fact is as Romney has finally pointed out, 47 percent of americans are freeloading bums. There is no point in blaming Obama for a state of affairs that was put in place long before he was in politics.

In the last 100 years there has been only 1 president who was not a socialist, Calvin Coolidge. The rest have been elected while proclaiming various degrees of free crap for the people. It a sad state of affairs, but the fact is half the people are dishonest freeloading bums, and in a 50 50 election they willeventually win though slowly because in every polical compromise, they gain more frre crap while we gain nothing.

Obama will get reelected becuase the people want free stuff, its justthat simple.

Sent from my GT-P3113 using EO Forums

well..then the people spoke.....people want free stuff until they have to pay for it....somehow they feel screwed....go figure...