Subject: Fwd: Fw: : Where Are - The Three who brought down Wall Street. Surprise !!
Date: Tuesday, January 10, 2012, 2:10 PM
| Are you crooked enough to get one of these jobs! Where Are - The Three who brought down Wall Street. Surprise!!
Read the answer at the end
WHERE ARE THEY NOW? Surprise.... Answer
The three who brought down Wall Street.
Here's a quick look into the three former Fannies Mae executives who brought down Wall Street.
Franklin Raineswas a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae's accounting activities. 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.
Tim Howard- was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard's Golden Parachute was estimated at $20 Million!
Jim Johnson- A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. 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 for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson's Golden Parachute was estimated at $28 Million.
WHERE ARE THEY NOW?
FRANKLIN RAINES? Raines works for the Obama Campaign as his Chief Economic Advisor.
TIM HOWARD? Howard is a Chief Economic Advisor to Obama under Franklin Raines.
JIM JOHNSON? Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.
Kinda makes you sick to your stomach the way Obama hangs onto his crooked buddies. Ourcurrent administrationseems to be rotten to the core!!!!
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1 comment:
The message is mostly accurate in its description of the roles Raines and Howard played in an accounting scandal from several years ago, though we weren’t able to verify the exact value of each man’s "golden parachute." However, charges against Raines were dropped this year in exchange for his giving up $24.7 million in stocks, cash and other benefits. The settlement included a $2 million payment to the federal government to be covered by Fannie Mae’s insurance policy. Howard also agreed to a settlement valued at $6.4 million, including $5.2 million in stock options. The e-mail also notes that Johnson, who was CEO before Raines, was criticized for receiving $21 million in compensation a decade ago.
Obama’s Connection to Raines. We addressed Raines’ connection to Obama on the FactCheck Wireback in September after a McCain-Palin campaign ad claimed that Raines, the former Fannie Mae chairman and CEO, was advising Obama on economic matters. Both Raines and the Obama campaign denied that Raines was, or is currently, working for the campaign as an adviser.
http://factcheck.org/2008/10/obamas-economic-advisers/ ******
Analysis: While the above litany of charges against former Fannie Mae executives Franklin Raines, Tim Howard, and Jim Johnson matches up pretty closely with what has been reported in legitimate news sources, it's not true that any of these gentlemen went on to serve as "chief economic adviser" or "senior financial adviser" to the Barack Obama campaign.
http://urbanlegends.about.com/od/barackobama/a/wall_street.htm
http://urbanlegends.about.com/od/barackobama/a/wall_street_2.htm *****
http://tickerforum.org/akcs-www?singlepost=2836358
http://www.primalhabits.org/the-three-who-brought-down-wall-street-t1469.html
http://denver.craigslist.org/pol/2789299762.html
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