[Liz]

I still recall the news clip at the time he took over---b/c it was so revealing of the man.

Raines, in shirtsleeves, walked into a large room to applause that sounded forced (not a standing ovation by any means---the board was seated).

Raines, himself, had an odd look on his face--kind of a smug smirk. And he was looking down--not at the board members. Judge Judy would not have liked that---she would have admonished him.

Now we know---he was already planning his Fannie Mae heist, from the getgo.

Makes one wonder how much actual time he spent on the public's business.

With all that loot he walked away with, he musta spent a lot of time figuring out ways to fill his pockets.

[dennisw]

Franklin Raines was the biggest looter. I remember him having a good reputation before Fannie Mae. He was one of the more sober members of the Black Caucus in Congress. Then he was Bill Clinton’s budget director. I always figured he was on the up and up and had some brains.

I first read about him ripping off Fannie Mae five years ago