Mainecoons
07-25-2012, 03:05 PM
WE GOT CHANGE--A LEVEL OF CHICAGO CORRUPTION NOT SEEN IN THE FEDERAL GOVERNMENT IN MODERN TIMES.
(from an email from a friend)
Where are Jim, Tim, and Franklin now?
Just in caseyou might have wondered how their ineptitude affected their lives after theyruined so many dreams and lives....let me refresh your memory:
Where are Jim, Tim and Franklin now? Here's a quick look into the three formerFannie Mae executives who brought down Wall Street.
FranklinRaines - was aChairman and Chief Executive Officer at Fannie Mae. Raines was forced to retirefrom his position with Fannie Mae when auditing discovered severeirregularities in Fannie Mae's accounting activities. Raines left with a"golden parachute valued at $240 Million in benefits. The Government filedsuit against Raines when the depth of the accounting scandal became clear.
Tim Howard - was the Chief Financial Officer ofFannie Mae. Howard "was a strong internal proponent of using accountingstrategies that would ensure a "stable pattern of earnings" atFannie. Investigations by federal regulators and the company's board ofdirectors
Since concluded that management did manipulate 1998 earnings to triggerbonuses. Raines and Howard resigned under pressure in late 2004. Howard'sGolden Parachute was estimated at $20 Million!
Jim Johnson - A former executive at LehmanBrothers and who was later forced from his position as Fannie Mae CEO.Investigators found that Fannie Mae had hidden a substantial amount of Johnson's1998 compensation from the public, reporting that it was between $6 million and$7 million when it 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 ARE THEY NOW?
FRANKLINRAINES?
Raines works for the Obama Campaignas his Chief Economic Advisor.
TIM HOWARD?
Howard is a Chief Economic Advisor to Obamaunder Franklin Raines.
JIM JOHNSON?
Johnson was hired as a Senior Obama FinanceAdvisor and was selected to run Obama's Vice Presidential Search Committee.
(from an email from a friend)
Where are Jim, Tim, and Franklin now?
Just in caseyou might have wondered how their ineptitude affected their lives after theyruined so many dreams and lives....let me refresh your memory:
Where are Jim, Tim and Franklin now? Here's a quick look into the three formerFannie Mae executives who brought down Wall Street.
FranklinRaines - was aChairman and Chief Executive Officer at Fannie Mae. Raines was forced to retirefrom his position with Fannie Mae when auditing discovered severeirregularities in Fannie Mae's accounting activities. Raines left with a"golden parachute valued at $240 Million in benefits. The Government filedsuit against Raines when the depth of the accounting scandal became clear.
Tim Howard - was the Chief Financial Officer ofFannie Mae. Howard "was a strong internal proponent of using accountingstrategies that would ensure a "stable pattern of earnings" atFannie. Investigations by federal regulators and the company's board ofdirectors
Since concluded that management did manipulate 1998 earnings to triggerbonuses. Raines and Howard resigned under pressure in late 2004. Howard'sGolden Parachute was estimated at $20 Million!
Jim Johnson - A former executive at LehmanBrothers and who was later forced from his position as Fannie Mae CEO.Investigators found that Fannie Mae had hidden a substantial amount of Johnson's1998 compensation from the public, reporting that it was between $6 million and$7 million when it 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 ARE THEY NOW?
FRANKLINRAINES?
Raines works for the Obama Campaignas his Chief Economic Advisor.
TIM HOWARD?
Howard is a Chief Economic Advisor to Obamaunder Franklin Raines.
JIM JOHNSON?
Johnson was hired as a Senior Obama FinanceAdvisor and was selected to run Obama's Vice Presidential Search Committee.