Fannie Mae leaders ousted

Washington Times ^ | Dec 22, 2004 | Martin Crutsinger

[GipperGirl]

a blistering report by the Office of Federal Housing Enterprise Oversight, which was made public in September, cast doubt on Fannie Mae's past earnings reports and even its financial soundness. OFHEO, the government agency that regulates Fannie Mae, raised the possibility that the company had employed deliberate accounting maneuvers designed to meet earnings targets and thereby bring bigger bonuses to top executives.

[GipperGirl]

It gets worse, the CLINTON DEMOCRAT heading Fannie Mae resigned with compensation of $1000 a month for Life (Rush Limbaugh, Dec 29th) His name is FRANK Raines & after only 5 years we the tax payers will dish out a sweet deal worth millions to another CORRUPT DEMOCRAT ....please note the DEAFENING SILENCE from the Partisian media (especially in light of ENRON) ... I urge people to pressure the NEWS to COVER THIS DISGRACE ~ !@#$%^&*() thank you ~

[Sidebar Moderator]

Please use the original headline when posting articles to help prevent duplicates. Thanks.

[GipperGirl]

Didn't check my spelling before I posted
(too angry) VANITY ~!*

[NorCalRepub]

This is just criminal and it happens all the time...... bad behavior by Raines and his CFO. They have to restate profits etc and their lousy and shady accounting were at fault as usual and he gets millions of compensation for this....this is the only frigging time i feel like i want a socialist revolt cause it just makes big business always look like greedy, selfish little bas**rds that care nothing about shareholders or the middle class , lower class etc at all........ok.....I'm calm now.....no socialism please but we should put these guys in jail.....not in a mansion

[mercy]

You state that Raines will recieve $1000 a month for life. You're about 3 zeroes short.

[mercy]

Correction: 2 zeroes.

[Enterprise]

"Mr. Raines, a former head of the Office of Management and Budget in the Clinton administration, received total compensation in salary and bonuses of $20 million last year, while Mr. Howard received $7.7 million."

So, what's new!

[eeriegeno]

the CLINTON DEMOCRAT heading Fannie Mae resigned with compensation of $1000 a month

Better count those pennies again. It's a tad over $1000/ month for life.......

[GipperGirl]

Well, I was more angry about how the MEDIA is totally ignoring this Horrible Corruption & waste of tax payer money............& why are they ignoring it?
Because its a DEMOCRAT doing the stealing
grrrrrrrrrrrrrrrrrrr ~~~

[tubebender]

I think you mean he gets over $120,000 per month plus what ever else he stashed away...

[GipperGirl]

Don't depress me :(
I wrote to my local KERRY supporting paper & called them as well. The editor said
"Enron was a real scandale with REAL victims"
This is just "Accounting Discrepencies"
~!@#$%^&*()@!#$%^&*()_+~!@#$%^&*()_@#$%^&*()_@#$%^&*
(cuss words)

[billhilly]

$1000 per month equals $100,000.00 per month, slightly less than his $1.5 million per month last year, but serious money nonetheless.

[hiredhand]

O.K....I found it! :-) Yep! I feel this way every time I listen to the intelligent and diverse talking heads on NPR. Every time I hear their voices I pray that God Himself would pull their funding.

I share your anger, but at the same time don't expect the MSM to give this a lot of notice. I actually heard something about this several weeks back...about their investigation into financial mismanagement or something similar.

[ExTexasRedhead]

Time for all of us to start calling Senators and Representatives and pushing for a congressional review/hearing. Put the pressure on big time so they can't hide this scandal.

[nygoose]

Nice try, but you forgot the free life and health insurance for life. Maybe he could have paid the premiums himself?

[InvisibleChurch]

1.3 million a year for life

[MarkL]

$1000 per month equals $100,000.00 per month, slightly less than his $1.5 million per month last year, but serious money nonetheless.

Huh? Are you the accountant for Fanie Mae?

Mark

[Ole Okie]

Worse yet, folks.

Jamie Gorelick (remember the ardent Clintonista on the 9/11 commission?) was Vice-Chairman of Fannie Mae up until 2003, and shared responsibility with Franklin Raines.

Her law firm did the legal work for Fannie Mae.

Heard that on Tom Sullivan subbing for El Rushbo today.

Dumbocraps take care of each other, rubbing each other's backs, and so on.

[harpo11]

Is there not one thing that those Clinton crooks didn't stain with their perfidious corruption?

[GipperGirl]

exTexas::: EXACTLY ~! I GET SOOOOOO TIRED OF DEMOCRATS GETTING AWAY WITH CRIME & MY TAX MONEY. THE MEDIA CONTINUES TO HAMMER REPUBLICANS FOR "CREATED SCANDALS". It is time to make some noise or this CORRUPTION will go the way of rathergate, and Sandy Berger. It will be ignored as if it never happened~!