Posted on 10/14/2010 2:02:42 PM PDT by neverdem
Years before Fannie Mae foundered amid a massive accounting scandal, President Obama's choice for national security adviser oversaw an office inside the mortgage giant that orchestrated a negative publicity blitz to fight attempts by Congress to increase government oversight, records show.
Thomas E. Donilon, who won the job as national security adviser this month, worked as a registered lobbyist for Fannie Mae from 1999 to 2005 at a time the company's officials insisted finances were sound. He also earned more than $1.8 million in bonuses before the government took over the troubled company in the wake of an accounting scandal.
Vice President Joseph R. Biden Jr. and Mr. Obama, who railed against lobbyists on the campaign trail, hailed Mr. Donilon's appointment last week, but made no mention of his time as a registered lobbyist.
Mr. Donilon's work came under scrutiny in a 2006 report by the Office of Federal Housing Enterprise Oversight (OFHEO), which found that Fannie Mae lobbyists - working in an office overseen by Mr. Donilon - parlayed their ties to members of Congress to try to discredit federal regulators looking into the finances of the company.
"Thus, Fannie Mae succeeded in creating a large volume of negative publicity about the OFHEO examination report, in an effort to distract attention from its multibillion-dollar accounting errors," the OFHEO report concluded.
In addition, the report noted that the publicity campaign, which included leaking nonpublic information, was conceived and executed by Fannie Mae's government and industry relations department, but was still "well known" to Mr. Donilon and other senior executives.
Mr. Donilon was never accused of being complicit in accounting irregularities that prompted federal regulators to seek more than $100 million paid out to Fannie Mae's former chairman and chief executive, Franklin D. Raines, along with two other executives.
Still, Mr...
(Excerpt) Read more at washingtontimes.com ...
The list, ping
Let me know if you would like to be on or off the ping list
The list, ping
Let me know if you would like to be on or off the ping list
How else should the tyrant choose and reward his minions?
These people make more tainted money than The Mafia. Not figuratively. Literally.
These people make more tainted money than The Mafia. Not figuratively. Literally.
The swamp not only isn’t drained-—it is more populated than ever before, since the NObama administration got into town.
Time for bounty amounts on swamp creatures?
Exposure, exposure, RATs fear exposure more than anything; keep shining the light on their corruption and let the games begin!
Lobbyist Thomas E. Donilon should be in prison, and may well be in the future.
This guy is arguably an even more outrageous choice than Eric Holder. Holder, an attorney, is at least qualified to be appointed as an attorney. Donilon, a proven hack and thoroughly corrupt bureaucrat, has not the slightest suggestion of experience that would suggest he’s qualified for this position. Dreadful.
bump
Thamks for the link.
It figures that Obamacare’s goal is to replace first aid with third aid.
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