Gorelick was also the attorney for BP oil spill deal w/ the Obama admin.
Gorelick was also the attorney for BP oil spill deal w/ the Obama admin.
Was she Obama’s attorney or BPs?
The buzz is that Ms. Gorelick worked for Fannie may at a salary of a little over $500,000 and left with $26,000,000 in bonuses. The bio on her website says she was Vice Chair of Fannie Mae from 1997 to 2003 under Clinton. She is a Harvard elitist (see link below).
Apparently she did a horrible job and left with a 26 million dollar bonus. To me, something just doesn't look right here. I think there should be a thorough investigation to see if any laws were broken and if she (and Franklin Raines, $700k salary, $50 million bonuses) were not looting the agency. I do not trust the Republicans to investigate this, for they have their buddies on the take and would certainly whitewash this larceny. I am livid about this woman's ability to loot and then escape all blame.
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THE BIG GOVERNMENT FISH THAT GOT AWAY WITH A BUNDLE
The Office of Federal Housing Enterprise Oversight’s report says that F/M CEO Franklin Raines---a Clinton appointee---and other Fannie Mae bigwigs, deliberately and intentionally manipulated financial reports to artificially hit earnings targets in order to trigger multi-million dollar bonuses for senior F/M executives.
Ex-Fannie CEO Franklin Raines should be behind bars for life. He is a crook of the first order. This thief Raines cooked the FM books precipitating losses of $9B (that we know of) for the single purpose of creating bonuses for himself and other F/M insiders. The SEC said Raines broke accounting rules by playing with risky derivatives.
RAINES COOKS THE F/M BOOKS---WALKS AWAY A MULTI-MILLIONAIRE After Raines was fired and exposed as a fraudster for cooking the govt books, Raines walked away w/ $90 million dollars, a $26 million parachute, PLUS..... Raines gets a MONTHLY pension of $116,300 for life. Raines had already collected $4.87 million in "special performance" shares. Raines owns options giving him $5.8 million in net profit after redemptions, plus another $8.7 million in deferred compensation for his six years at the F/M helm. There's more.
Raines keeps $5 million of paid-up life insurance. He and his spouse get free medical and dental benefits for life, worth over $1 million. NOTE: Raines earned $20 million in salary, bonuses and stock awards (that we know of) in one year.
To keep Raines happy within philanthropic circles, Fannie Mae will match Raines' charitable contributions by $10,000 a year.
After he was fired, Raines told the F/M board that he's entitled to get paychecks until June 22 giving him another $600,000, which triggers a $2,000 monthly raise in his lifetime pension. He also said he's entitled to disputed options with a gross value of about $5.6 million.