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Politics : View from the Center and Left
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To: epicure who wrote (105173)2/28/2009 5:46:24 PM
From: greenspirit  Read Replies (4) of 542193
 
Exhibit 1: Fannie Mae.

The CEO of Fannie Mae from 1991 to 1998 was James A. Johnson, who served as a senior aide to Democrat Senator Mondale, executive assistant to Vice President Mondale, and chairman of Mondale’s presidential campaign. Prior to that, the Minnesota Post reported that “Johnson worked on the campaigns of Gene McCarthy and George McGovern. More recently, Jim Johnson was selected to vet VP candidates for democratic vice presidential nominees John Kerry and Barack Obama.

Second in command of Fannie Mae from 1991 to 1996 was Franklin Raines, who was appointed as the Clinton Administrations Director of the Office of Management and Budget from 1996 until 1998. When Jim Johnson retired from Fannie Mae in 1998, Franklin Delano Raines was appointed as CEO by Clinton and headed Fannie from 1999-2004. Additionally, Clinton’s Deputy Attorney General, Jamie Gorelick, left her post in the Justice Department in 1997 and was immediately appointed as Vice Chairman of Fannie Mae, where she served from 1997 to 2003.

Franklin Delano Raines served as Fannie Mae CEO until he was forced out for accounting rules violations on December 21, 2004. Mr. Raines also played a major role during the Carter Administration as Associate Director for Economics and Government in the Office of Management and Budget and Assistant Director of the White House Domestic Policy Staff from 1977 to 1979;

Mr. Rains made off with over 90 million dollars in payments based largely on phony earnings reports.

Here's a link showing how aggressive Democrats were in defending the conduct of Fannie Mae and Freddie Mac.
youtube.com

Franklin Raines went to Harvard.
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