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OBAMA ADVISOR FRANKLIN RAINES IGNORED FANNIE MAE ACCOUNTING WARNINGS AS EARLY AS 2002
MSNBC.COM ^
| 10/6/2004
| AP
Posted on 09/17/2008 8:38:12 AM PDT by johncocktoasten
WASHINGTON - The former Fannie Mae accountant who raised questions about the mortgage giants bookkeeping said Wednesday that he took his concerns directly to chief executive Franklin Raines in 2002 and asked him to investigate.
The disclosure by Roger Barnes, who left Fannie Mae last November, came as Raines and chief financial officer Timothy Howard defended the companys accounting and told Congress that regulators allegations of earnings manipulation represent an interpretation of complex rules.
(Excerpt) Read more at msnbc.msn.com ...
TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: corruption; economicpolicy; fanniemae; franklinraines; housingbubble; obamabiden; obamatruthfile
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To: patriotspride
http://www.facebook.com/topic.php?uid=6425923706&topic=9097
John McCain Urged Action More Than 2 Years Ago, Co-Sponsoring Legislation To Reform Fannie Mae And Freddie Mac Warning: "If Congress Does Not Act, American Taxpayers Will Continue To Be Exposed To The Enormous Risk That Fannie Mae And Freddie Mac Pose To The Housing Market, The Overall Financial System, And The Economy As A Whole." McCain: "I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole." (Office Of U.S. Senator John McCain, "McCain Statement On Co-Sponsorship Of The Federal Housing Enterprise Regulatory Reform Act Of 2005," Press Release, 5/26/06)
It will come out.
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