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Donilon’s résumé that Obama failed to mention — included six years as a top exec of Fannie Mae at the height of the shady housing boom — made him a problematic choice for any Obama administration job that requires Senate confirmation. Donilon left as it was mired in an accounting scandal in 2005, three years before Fannie Mae’s spectacular collapse when the mortgage market imploded in 2008. Donilon was not accused of wrongdoing but Fannie ultimately paid $400 million to the feds to settle charges that the company cooked the books between 1998-04. The government sued three top Fannie Mae executives to recover millions in bonuses based on the allegedly falsified reports, but Donilon was not among them.

Fannie/Freddie are the key criminal mechanisms of the criminal enterprise that is the criminal Democrat party and its minions. read on.

The Government filed suit against F/M head Franklin Raines when the depth of the F/M accounting scandal became clear. READ IT HERE http://housingdoom.com/2006/12/18/fannie-charges/

The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner."

These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the mis-stated Fannie Mae profits. (Did Raines ever return the money?)

Franklin Raines looted and pillaged Fannie Mae as Clinton's appointee. Raines famously bought into the climate control scam w/ F/M funds. Now he's hooked up with Ohaha's Chicago mob who organized the Chicago Climate Exchange.

REFERENCE Ex-Fannie CEO Franklin Raines should be behind bars for life. He is a crook of the first order. This thief Raines cooked the FM books precipitating losses of $9B (that we know of) for the single purpose of creating bonuses for himself and other F/M insiders. The SEC said Raines broke accounting rules by playing with risky derivatives.

COOOKS THE F/M BOOKS---WALKS AWAY A MULTI-MILLIONAIRE After Raines was outed for cooking the books, Raines walked away w/ $90 million dollars, a $26 million parachute, PLUS..........

Raines gets a MONTHLY pension of $116,300 for life. Raines had already collected $4.87 million in special performance shares.

Raines owns options giving him $5.8 million in net profit after redemptions, plus another $8.7 million in deferred compensation for six years at the F/M helm.

Raines keeps $5 million of paid-up life insurance. He and his spouse get free medical and dental benefits for life, worth over $1 million.

Raines earned $20 million in salary, bonuses and stock awards (that we know of) in one year.

After he was fired, Raines told the F/M board that he's entitled to get paychecks until next June 22 giving him another $600,000, which triggers a $2,000 monthly raise in his lifetime pension. He also says he's entitled to disputed options with a gross value of about $5.6 million.

To keep Raines happy within philanthropic circles, Fannie Mae will match Raines' charitable contributions by $10,000 a year.

Fannie Mae's CEO Franklin Raines earned $20 million in salary, bonuses and stock awards (that we know of) in one year. After Raines was outed as CEO for cooking Fannie Mae's books, Raines walked away w/ $90 million dollars, a $26 million parachute, PLUS.......... Raines gets a MONTHLY pension of $116,300 for life. Raines had already collected $4.87 million in special performance shares. Raines owns options giving him $5.8 million in net profit after redemptions, plus another $8.7 million in deferred compensation for six years at the F/M helm. Raines keeps $5 million of paid-up life insurance. He and his spouse get free medical and dental benefits for life, worth over $1 million. After he was fired, Raines told the F/M board that he's entitled to get paychecks until next June 22 giving him another $600,000, which triggers a $2,000 monthly raise in his lifetime pension. He also says he's entitled to disputed options with a gross value of about $5.6 million. Fannie Mae will match Raines' charitable contributions by $10,000 a year.

Raines was sued and ordered to payback some of his extorted gains (but did he?).

The FBI, IRS and SEC should scrutinize all official documents filed by Raines---and determine the scope and dimension of any and all falsifications contined therein. If any documents contain falsifications that would negate his payout since he did not negotiate in good faith---hard and fast rule of contract rule.

Conveying (and stealing and destroying) an official record of the United States is punishable by 10 years in prison and a $250,000 fine, according to the United States Attorney's Office.

Can the retiree produce documents that show how he calculated they were entitled to million dollar pensions? Did the pensioners file all the proper IRS documents? (Stolen money is taxable.) Oh, never mind the FBI, SEC, IRS, DOJ can find out (/snix).

=========================================

REPORT POSSIBLE CRIMES: Conspiracy to steal; government fraud; theft of public property and official records, money laundering, tax evasion, computer trespass, US Postal and electronic fraud.

REPORT TAX FRAUD AND TAX LAW VIOLATIONS HERE:
IRS TOLL-FREE 1-800-829-0433----you may remain anonymous.

EMAIL .......OAAG.Tax@tax.USDOJ.gov
Report computer trespass, US Postal and electronic fraud here:

FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)

Ask the IRS to determine if taxes were paid (stolen money is taxable).
IRS TOLL-FREE 1-800-829-0433—-you may remain anonymous when reporting tax fraud.

Report government fraud, fiduciary negligence; signing off on falsified official documents here:
EMAIL askDOJ@usdoj.gov

If any of these are publicly-held companies go here
EMAIL enforcement@SEC.gov

This is going to trial in DC.

Sorry for any black conservatives on this board, but the jury will be largely black. Raines gave loads of $$$ to DC area charities and affordable housing groups. And he is black.

So, like the OJ trial, he will be found not guilty.

Clinton, Cuomo, Raines and Susan Wachter (Cuomo’s Policy Director at HUD, now at Wharton and on the news constantly) conspired to greatly ramp up risky lending at Fannie and Freddie which eventually blew up.

Wachter is still testifying on SAVING THE GSES!!!! And Obama loves her!

Here is email address: wachter@wharton.upenn.edu

We should flood her email with protests against her cronyism with Cuomo, Raines, Barney Frank and Obama.

I just sent her an email. Wharton grads should be mortally ashamed of this fool.

http://www.washingtonpost.com/wp-dyn/articles/A21138-2004Dec22.html

Raines’s total compensation in 2002 was $17.7 million. That year, 19 other top Fannie Mae executives were paid more than $1 million, 12 more than $2 million and nine more than $3 million, according to materials released at a hearing this fall by Rep. Richard H. Baker (R-La.), chairman of the House subcommittee that oversees Fannie Mae. Baker is a leading critic of the District-based mortgage finance company.

Among the Fannie Mae officials on Baker's list was Thomas E. Donilon, the company's executive vice president — law and policy, who was assistant secretary of state for public affairs and chief of staff to Secretary of State Warren Christopher in the Clinton administration. Donilon received $4.3 million.

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Fannie , Freddie in the Political Spotlight
Washington Post - Monday, July 31, 2000
Author: Jerry Knight, Washington Post Staff Writer

Ordinarily when Fannie Mae announces its quarterly earnings, chief financial officer Timothy Howard has a conference call with analysts and talks for the better part of an hour about the numbers that drive the performance of Washington's biggest business.

Interest rate trends; comprehensive net interest margins; what it costs Fannie to borrow money, compared with what it costs the U.S. Treasury; LIBOR rates; T-bill spreads—it adds up to billions of dollars measured off in basis points, each of which is one one-hundredth of a percentage point.

You need an MBA just to understand the lingo and an Excel spreadsheet to make sense of the numbers.

But this month, when Fannie put out its second-quarter financials, the conference call was dominated not by the jargon of Wall Street, but the spin control of Washington. Thomas E. Donilon , Fannie ‘s executive vice president for law and policy, took over the teleconference and made a point of introducing Arne Christenson, senior vice president for regulatory policy. Christenson was, Donilon reminded the Wall Streeters, chief of staff to Newt Gingrich when he was House speaker.

When your chief executive, Franklin Raines, used to be President Clinton's budget director and your vice chairman, Jamie Gorelick , is Clinton's former deputy attorney general, it's important for the politically naive numbers nerds on Wall Street to understand that you have a balanced offense. Because from that point on in the call, it was pure politics.

“We manage our political risk with the same intensity we manage our other risks,” proclaimed Donilon , assuring investors they do not have to worry about all the bad things being said in Washington about Fannie Mae .

“It's political noise and not political risk,” he said.

(snip)