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To: Blue Turtle
BTW, keep your ears pricked up for the name "Frank Raines". He makes Bernie Maddoff look like a piker. Maybe some day he will be in prison, but for now he is an economic adviser for Obama. If you go to YouTube and do a search for "Burning down the house" you will find many video's depicting Raines and the investigations Bush and McCain tried to get on Fannie and Freddie. Anybody that questioned the book keeping of Fanny was called "Racist". (Raines is black) Shortly thereafter Fanny had to go back 5 years and restate their earnings( as a loss) and Raines retired with $90 million. This is where Barney Franks told the camera that Fannie and Freddie were sound and a good investment. A couple of weeks later, they collapsed and had to be bailed out with tax money to stay open.

This makes ENRON look like tiddly winks, but everyone seems to just keep their mouth shut so they won't be racist for pursuing a black man that swindled America. Congressman Meeks even called it a lynching. I guess we can't have that, so Raines gets to keep his $90million,( remember the "clawbacks") and of course he's not in jail, aka Madoff.

42 posted on 06/16/2010 8:12:36 AM PDT by chuckles
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To: chuckles

I recall the WSJ screaming in the 90s that Raines was a thief and Fannie would crush the economy in 10 years or so.


65 posted on 06/16/2010 7:43:18 PM PDT by Psycho_Bunny (Hail To The Fail-In-Chief)
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