1.  Franklin Raines: was a Chairman and Chief Executive Officer at Fannie Mae.  Raines was forced to retire from his position with Fannie Mae  when auditing discovered severe irregulaties in Fannie Mae’s accounting activities. At the time of his

Raines left with a “golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. 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 miss-stated Fannie Mae profits.

Howard’s Golden Parachute was estimated at $20 Million!

3.  Jim Johnson: A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO.   A look at the Office of Federal Housing Enterprise Oversight’s May 2006 report on mismanagement and corruption inside Fannie Mae, and you’ll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.”   Johnson is currently under investigation

WHERE ARE THEY NOW?

1.  FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor

IF OBAMA PLANS ON CLEANING UP THE MESS - HIS ADVISORS HAVE THE EXPERTISE – THEY MADE THE MESS IN THE FIRST PLACE. Would you trust the men who tore Wall Street down to build the New Wall Street ?