Posted on 01/04/2005 5:19:04 PM PST by TexasCajun
I want to announce, ladies and gentlemen, what I think may signify -- I don't expect anybody else to say this, but I'm going to say it -- the official end of racial prejudice. The official end of racial prejudice. Now, I'll tell you when that happened. Nobody else is going to proclaim it, but to me this is the official end of racial prejudice. Our long struggle to end racial prejudice is over, and we have triumphed -- and this is not to say that the Reverend Jackson and Al Sharpton and the rest of these race charlatans will not still ply their craft, still work the corners, but equality between blacks and whites is as close as it's ever gotten now, and what is it, you're asking, that marks this magic moment in histoire, this triumph of equality? It is the rise and fall of Franklin D. Raines: FDR. Not the original FDR, but then again, John Kerry wasn't the original JFK, either. Franklin Raines, he was in the Clinton administration. Remember him? Franklin Raines is one of but many prominent African-Americans who have risen to the highest level of corporate American. Franklin Raines was CEO of Fannie Mae.
Now, for those of you in Rio Linda, Fannie Mae is the Federal National Mortgage Association. But it's not that position of power that marks the absolute end of racial prejudice, not the fact that he got the job. Here for your ears only, my friends, is what does signify the end of racial prejudice. It seems that while he was running Fannie Mae, a bit of financial chicanery went on. While Franklin D. Raines was running Fannie Mae, somewhere between $3 billion and $9 billion vanished. It vanished in an accounting discrepancy, and you-know-what hit the you-know-what. This is an accounting discrepancy: three billion and nine billion has vanished, and like any other chief executive, Franklin D. Raines was asked to or he volunteered to resign, to fall on the sword. This, ladies and gentlemen, is still not the moment in time where we have reached the official end of racial prejudice. This is. This is where we bury the last vestige of racial prejudice: Franklin Raines, an African-American who sat atop Fannie Mae while three-to-nine billion went missing is walking away with a sweetheart deal that would turn Ken Lay and anybody else at WorldCom green with envy.
Franklin D. Raines an African-American who sat atop Fannie Mae while three to nine billion went missing gets a retirement package in the neighborhood, depending on who you talk to, of $140 million. He is 55. He gets $19 million in severance payments, he gets a lifetime salary of $1.37 million, a million point three seven every year. If he lives until 75, the life expectancy, that's $27.4 million. You add in $21 million in stock already awarded to Franklin Raines, $23.8 million in future stock payouts due him, a life insurance policy he gets, and an additional $23.8 million in performance based options. He's going to score $23.8 million in performance based options while sitting atop a scandal between three and nine billion dollars at Fannie Mae. All of this is on top of more than $17 and a half million paid to him since 1999. The grand total of what Franklin D. Raines walks out of Fannie Mae with, after just six years on the job, $140 million a year. In addition, to ease his pain and suffering, at having volunteered to fall on the sword, he gets free health care and dental care for life for him and his family.
Now, some of you nitpickers out there might be incensed at this payout. But to me there's a larger story here. In the land of the free and in the home of the brave, African-American scoundrels can do as well as white scoundrels. Maybe Franklin D. Raines has done better than any white scoundrel. So to me, my friends, we have triumphed here over racial prejudice, the last inequality has been equalized -- and I don't think anybody's pursuing him, as in prosecutors, are they? (talking to staff) There are investigations underway? Well, we see if true racial equality has been achieved if those investigations amount to anything. But even if they don't, I'm satisfied racial equality has been achieved here. Franklin D. Raines, $140 million payout in the midst of a three to nine billion dollar scandal under his control at Fannie Mae. I will guarantee you this. Ken Lay is looking at this and scratching at his head. The WorldCom guys can't figure this out. Those poor guys from Adelphia, the Rigas, in jail. I will guarantee you, we have reached racial equality in America.
A little addendum here to our story on the reaching of the end of racial prejudice in America. While Franklin D. Raines, CEO of Fannie Mae walks away with $140 million after presiding over a three to nine billion dollar accounting snafu (laughing) guess who was the general counsel and the number two at Fannie Mae during much of his tenure? Does the name Jamie Gorelick ring a bell, ladies and gentlemen? Jamie Gorelick of the 9/11 Commission, Jamie Gorelick of the memo creating the wall between intelligence and law enforcement regarding the sharing of information on terrorists, which led to the problem we had connecting the dots prior to 9/11. Yes, that same Jamie Gorelick, #2 at Fannie Mae while Franklin D. Raines was the CEO and the Mister Big, the #1 during a three to nine billion dollar accounting snafu, Jamie Gorelick. Seems all Clinton people, Jamie Gorelick, Clinton protégé, maybe other things; Franklin D. Raines was part of the Clinton administration. I think he was in the treasury department, was somewhere. Oh, that's right he was director of O&B, director of office and management and budget. Yes, he might have been a Rhodes scholar, Franklin D. Raines. So, you see the racial prejudice has ended, ladies and gentlemen.
There's a picture of Franklin Raines at the link if someone would be kind enough to help me post his picture.
Thank God. I was so tired of white people gettin the short stick.
I heard Rush today and I bet a lot of other people heard Rush expound on the end to racial bias as he has outlined.
But, I can tell you who hasn't heard Rush, or is ignoring Rush (more likely), the media. Yes sireeeeeee, I haven't heard about this on any of the other news.
I did hear Brit Hume talk about the Franklin Raines part, but I can't recall whether he mention Ms. Gorelick or not.
The media has never said anything about her conflict of interest in the 9/11 hearings, so you can be dang sure they won't explore this most dicey new story about her.
Damn Shame, that is!
A $140 Million Golden Parachute after 6 years for someone that loses Billions of Taxpayer money is not the short end of anything.
White people are the only ones you can discriminate against.
Dimbos are such hypocrites... They have NO SHAME!! Not a lick of shame!!
I thought only Airline CEO's got that kind of parachute!
Oh, and don't forget Disney CEO's---
But, I believe they have all been white, so they don't get to escape scrutiny from the MSM!
The man also works in finance and had a clear understanding of the entire Fannie Mae accounting 'irregularity'.
Raines was bubba's budget director. The loss of nearly 9 billion dollars was NO accident.
Heh, heh, heh...
Hey, how much money does Hillary have in her political warchest? Is it, like, $9 billion?
Fannie Mae is not a government entity.
Some one of these days, a lota people gonna be answering for a whole lota evil doin'.
It is a Government-Sponsored Enterprise, or GSE.
From the looks of slick willie, the wages of sin are very high indeed.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.