Where are the three men who brought down Wall
Street?
WhERE ARE THEY NOW? Surprise Answer At The End...
The
three men who brought down Wall Street. Here's a quick look into the three
former Fannie Mae executives who brought down Wall Street (Remember the housing
bubble, and the recession?).
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 bo ard 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.
So, 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? Johns on 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!!!!
So, this is how we reward corruption and
ineptness? In a different administration these men could be prision.
In another country, they could be executed. Here, we make them part
of Big Government. No Change, No Transparancy, and soon... No
America.
Street?
WhERE ARE THEY NOW? Surprise Answer At The End...
The
three men who brought down Wall Street. Here's a quick look into the three
former Fannie Mae executives who brought down Wall Street (Remember the housing
bubble, and the recession?).
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 bo ard 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.
So, 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? Johns on 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!!!!
So, this is how we reward corruption and
ineptness? In a different administration these men could be prision.
In another country, they could be executed. Here, we make them part
of Big Government. No Change, No Transparancy, and soon... No
America.
