Mr. Raines, was forced to retire from Fannie Mae in 2004 when its regulator found it had violated accounting rules in an effort to conceal fluctuations in profit and hadn’t maintained adequate risk controls.
http://online.wsj.com/article/SB121279970984353933.html
I’m not sure, but I think I read that Fannie Mae was still spending tens of thousands of dollars per year on Raines for lifetime health and life insurance and on contributions to his retirement fund.