Two events happened this week which seem unrelated, yet they are quite close. Both illustrate the opposite of the Christmas spirit. One was the firing of the CEO of Fannie Mae; the other was a UN official calling the US “stingy” for pledging $35 million for Asian flood relief. Of course, there was the usual overlay of incompetence of the American press in covering these matters. We’ll cover that as we go along. Let’s begin with the golden parachute for Franklin Raines, former CEO of Fannie Mae. Two weeks ago, Raines was fired as CEO of Fannie Mae (FNM) by...
