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Wednesday, September 5, 2012
DAM BEAVERS --- Bureaucracy gone mad I think!
COLD WAR POLICY "MUTUALLY ASSURED DESTRUCTION" REVIVED BY CONFEDERATE GOVERNMENT TOWARDS RUSSIA AND CHINA FROM ERASMUS OF AMERICA SEPT. 5, 2012 3:20PM
"Our Government is keeping the people under control by removing almost all money above essential costs of living through taxation. With no money to start businesses or conduct political or educational or fight legal battles, the people are not dangerous. But the government is going much farther than that by using the tax funds to estalish a totalitarian government owning the business of the Country." - The Green Magicians (Find out who through pension funds, etc. owns most of the stocks of America, and shock, the federal government and state governments own most of corporate America which becomes Communist ownership of America by the backdoor of buying the key stock controlling and owning America.)
John Swinton, editor of the New York Times, stated at the annual dinner of the American Press Association, in 1914; "There is no such thing as an independent press in America, if we except that of little country towns. You know this and I know it. Not a man among you dares to utter his honest opinion. Were you to utter it, you know beforehand that it would never appear in print.....It is the duty of a New York journalist to lie, distort, to revile, to toady at the feet of Mammon, and to sell his country and his race for his daily bread, or what amounts to the same thing, his salary. We are the tools and the vassals of the rich behind the scenes. We are marionettes. These men pull the strings and we dance. Our time, our talents, our lives, our capactities are all the property of these men. We are intellectual prostitutes." (Having years ago worked for one of the top newspapers in America and having friends in other newspapers, I know of the massive censorship of serious news in America and propaganda passed off as news and truth by our liar press of America.)
The curses of a nation which will no longer honor God as they progress down the scale of curses of God to the ultimate where God has in disgust totally abandoned this willfully wicked nation whether ancient Israel or modern America. Leviticus 26:26: "And when I (God) have broken the staff of your grain (nutrition is removed from your national bread such as America today), ten women shall bake your bread in one oven, and they shall deliver your bread by weight; and you shall eat and not be satisfied. (beginning of famine by curse of God. Not enough bread for survival.)" And when you have pushed God hard enough with your willful wickedness and mockery of God by your government and society, God totally abandons your nation and race. Verse 29: "And you shall eat the flesh of your sons and the flesh of your daughters shall you eat." And in between are the 7 times curses of God when a people will not repent of their evils and return to God. Leviticus 26:18 (7 times original punishent for wicked sin or sins). 26:21 (7 times increase of original punishent or 49 times punishment for original sin bringing on this wrathful curse and punishment from God who you have despised). 26:21: (again 7 times punishment or now up to 343 times original punishment). And for the colossal idiots who don't know when to quit pushing God to utter disgust with this race or nation, etc. - 7 times greater punishment or now up to 2401 times greater punishment than original punishment for this sin or wickedness before God). America is trying hard to push its luck and see how wicked it can become before God finally smashes America and wipes it out as a nation.
The greatest sin the children of Israel did after leaving Egypt was mocking the authority of those God had given authority to in order to lead and teach the children of Israel how to follow God uprightly. As they mocked, "Moses, who has made you prince over us?" And God provoked to wrath for His authority being mocked He had given to Moses and Aaron promptly slew 250 elders of Israel who were smart aleck and had mocked the authority of God after already seen Miracles of God appearing with Moses who then told them what the Will of God was for them to follow. A Delores Moses who was a Jewish convert to Christianity then began to display stunning Miracles of God in healing the utterly incurable and telling people secrets of their lives and predicting correctly things that happened afterwards in their lives. She told a friend of mine in Roanoke, VA that she wanted to come with him to meet with me in South Carolina. She told him secrets about me that he knew but no one else from that area. She told him my hidden name I have not used in years which means in Hebrew Judge or God's Judge. She told him about my great grandfather's goldmine out West which had been closed still full of gold. She said God had saved this for later when I would use it to help finance the Gospel of Christ all over the world in a giant world drive. My friend had never told her about this. He called me and told that she wanted to meet with me but would not say why. I somehow knew why she wanted to come to meet with me. When she came, she said since men would refuse to do the Will of the Lord, Jesus wanted her to anoint me with oil as a Prophet of God after the Order of David which she didn't say but would be for political leadership of a nation to be under God.. She had her daughter with her and both women claimed they saw the dove of the Holy Ghost of God hovering over me while I explained to them meanings of parts of Revelation. I did not see this dove nor did my friend from Roanoke, but they said they did. She indicated I was the powerful spirit that would oppose the wicked in America and give Christianity great victory in America.
St. Padre Pio of Italy who had the wounds of Christ on his hands and feet for 50 years and had countless stunning Miracles of God occur all these 50 years while praying for their healings in the Name of Jesus Christ wrote to me while a military cadet in military school. He told me a secret about me that could not be known by natural knowledge but only by divine revelation. And let me know that I was supposed to found the holy cross-bearers of Jesus Christ movement in America. Bible scholars may recognize this name is based upon the prophecy of St. Francis of Paola of 1470 A.D. In a land that would exist outside of Europe or Middle East and fight a civil war shortly before 1870 A.D. would arise a leader for Christianity personally picked by Jesus Christ to lead the Christians to victory against a tyranny in this land and they would lead Christianity to victory across the world and would be more beloved as a nation (yes, St. Francis of Paola called them a "nation" in the prophecy than even the Children of Israel had ever been as a nation. They would be the most talented and gifted Christians seen in human history. Their trademark would be to use science to prove the existence of God to mankind. The true Christians would love and support this Christian movement when it arise. Those who hated him and this movement would be the predestined enemies of God to be damned by the Wrath of God to hell for all eternity. This founder of this movement would be a first born son, rightful leader of the nation in which he arises, descendant of the Imperial Royal Line of Constantine the Great who championed and legalized Christianity in the ancient Roman Empire, and descendant of the Royal Line of France Europe didn't know still existed. By Will of God, he will be fierce in warfare if enemies of Christianity try to destroy it. He will bring the blessing of prosperity to nations wanting God to rule over them. He will help reform Christianity back to early Apostolic Christianity founded by Christ and the Apostles. His banner in war will be the cross( St. Andrew's Cross of the Confederate Battle Flag). When the enemies of Christianity rejoice now that they judge they can finally kill off all Christians in the world, he will suddenly arise against them and utterly smsh them. He will bring freedom to the people and relieve them of fear of the deadly threats that were facing them.
How the enemies use all their tricks of lying by cunning to misrepresent what he and this movement willed founded by Jesus Christ really represents. As a teenager, I met an amazing prophet who predicted correctly everything of major importance that has happened to my life since that time. I thought he had missed on part of his prophecy when he said I would engage in a major battle later on in my life with Wash., D.C. which God despised so fiercely because it was intensely evil and loved evil rather than good. He predicted why I would win against Wash., D.C. To my amazement, the prophecy is now turning into reality. Another spiritual source of great power instructed e in the name of Jesus Christ that I publicize the family I.Q. background which I did not want to do. I was made to understand that the enemies of Christ were smearing Christianity that no intelligent man could be a Christian and I was supposed to turn the tables on them and shame them as stupid before all of mankind.
Intelligence services of all nations have to be more practical than they admit to the public. Right now, they judge I am no fool. They spectulate whether I have already secretly completed a deal with some foreign power and the Confederate Government is now secretly armed with Soviet-era Doomsday Bombs. If I have them even if run by foreign military crews who will do what Confederate authority tells them to because of the secret deal made if such deal has been made already, then if Russian and Chinese soldiers are in America in late October, 2012, then it is theoretically possible that Russia and China can be wiped out as nations and races by order of Confederate authority. Thus creates rebirth of the Cold War Doctrine and Policy of "Mutually Assured Destruction." So if Obama has to cancel his plans for the military takeover of America scheduled for late October, 2012, maybe 25 million Americans up to maybe even 150 million Americans may have to thank the Confederate Government that we saved yor lives from death at the hands of the planned Communist takeover of America by Obama who was groomed since young by KGB elements of Moscow to later be made President of America, open the defense gates of America to then, and then America falls before Communist occupation and conquest. Technically Obama would be called an "illegal" and "asset" of the KGB not as dead as Americans thought as Putin apparently never gave up on his allegiance as a former KGB official. Obama is not even an American citizen and was not born in Amerida, but Wash., D.C. is totally corrupt so they look the other way and let him run for the White House when legally he cannot do so.
By the way, if Obama does not allow the currency realignment also referred to as an RV for foreign currencies which has been scheduled for a long time to occur, as soon as the Omni Law is passed, we will immediately see the RV occurs and the American economy booms once this happens. You see Obama was out to sabotage the American economy so he could engineer his planned civil war in America and then Communist takeover of America by Obama, traitors in Wash., D.C. and foreign soldiers to help him crush and kill off countless millions of Americans in all 50 states. And Confederate doctrine, "Any effort to mass kill American citizens in any or all of America by Obama and allies will be considered as an act of war upon the Confederate States of America as we declare citizens of all 50 states as under the military protection of the Provisional Confederate Government. And the huge stockpiles of ammo, drones, and other military supplies intended to crush the American people will be turned over to us for and we will distribute them to civilian militias in all 50 states but under Confederate supervision, not Wash., D.C. as federal sources proved willing to mass kill off American citizens if we had let them. If Obama tries to crash the American economy or mass kill Americans, then we will hunt him and co-traitors and after public trial will do what any nation would do to traitors like this after catching them in conspiracy to mass kill Americans and we find strong evidence that all 50 states were to be abolished and replaced by districts run by military authority, and that all parts of America were to be turned over to foreign occupation by a number of nations. This conspiracy of high treason to mass kill Americans and end America as a nation is now declared cancelled. Any further attempt to do this will force us to show our hand and stop this conspiracy cold to finish America off as a nation.
Feel free to copy and send this report all over America. Financial support for passing the Omni Law which is the only smart way existing to save and preserve freedom and national unity may be supplied by sending checks, etc. made out to NIFI at NIFI, P,O. Box 1465, Seneca, SC 29679. Copies of The Omni Law may be read at Nesara News. Look at their search box at the top left side of their archive listing of reports with them. Put in The Omni Law to read copies of it. Or put in Erasmus of America to read many of my other reports posted with Nesara News. Or if you want, send in your reques for a copy of The Omni Law by emailing to fastboomamericaneconoy@gmail.com . Once we stop this Obama ambition to make America a Communist nation by Communist military conquest, maybe things can again calm down in America.
Yours for God and Country, Erasmus of America (pen name. Was smart for security reasons.)
First Audit Results In Federal Reserve's 100 Yr History; Startling! $16 Trillion given away!
Well now we all know where the money went and then think about this as the tax payers get us out of debt. Where is Congress on this and what are these Jerks in Washington thinking, WE ARE BROKE!
Last one out, please shut off the lights….
HI FOLKS:
HERE IS AN ARTICLE ABOUT THE FED BEING AUDITED.
SEE BELOW---POSTED WITH SPACE IN BETWEEN ARTICLE.
2012TheBigPicture – First Audit Results In Federal Reserve’s Near 100 Year History Posted Today; Startling! – 4 September 2012
Posted on September 4, 2012 by lucas2012infos | Leave a comment
You don’t still deal with the megabanks… do you???
In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.
Sept. 4, 2012
First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
Rep. Ron Paul (R-Tex.) wins (again) the most significant victory of his congressional career. He has taken his pet issue since the 1970s–the unwarranted power and secrecy of the Federal Reserve–from something pretty much no one but him cared about six years ago, through a bestselling book and mass movement by 2009, the second time he’s gotten the House of Representatives to vote to widen the government’s powers to audit the Fed’s activities.
Huffington Post with details about the vot , and on Paul’s Democratic ally equally upset with the Fed’s lack of transparency, Rep. Dennis Kucinich (D-Ohio):
The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill (HR1207), so that a complete audit would not be carried out.
Ben Bernanke (pictured to the LEFT), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.
What was revealed in the audit was startling:
$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this ‘Red Pill’: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.
In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.
“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” ~ Bernie Sanders (I-VT)
When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.
Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows…
Citigroup: $2.5 Trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 Trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 Trillion ($1,949,000,000,000)
Bank of America: $1.344 Trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
… and many many more including banks in Belgium of all places
View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):
Read the rest of the article…
www.2012thebigpicture.wordpress.com link to original article
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SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT /ENTITLEMENT!
SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT /ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?
I 'll be part of the one percent to forward this. I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a “Federal Benefit Payment.”;
This isn’t a benefit – its earned income!
This isn’t a benefit – its earned income!
Not only did we all contribute to Social Security but our employers did too. It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that 's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you 'd have more than $1.3+ million dollars saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you 'd receive $39,318 per year, or $3,277 per month.
That’s almost three times more than today’s average Social Security benefit of $1,230 per month,
according to the Social Security Administration (Google it - it’s a fact).
And your retirement fund would last more than 33 years (until you 're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them. And they didn’t pay interest on the debt they assumed. And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?
And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it.
Just because they “borrowed” the money, doesn 't mean that our investments were a charity!
Just because they “borrowed” the money, doesn 't mean that our investments were a charity!
Let’s take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government – Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.
Here’s a novel idea: Reduce the military budget to support our own population. Get out of the countries who don’t want us there. Bring our soldiers home and invest some of the $700B+ in giving them new careers
building roads and parks, teaching our children, creating new technologies, discovering cures for illness.
Then take the rest and begin to pay back Social Security, and call it what it is: Our Earned Retirement Income.
99% of people won 't forward this.
Will you?
OBAMA SUFFERS AMNESIA BLAMING BUSH FOR THE ECONOMY
OBAMA SUFFERS AMNESIA BLAMING BUSH FOR THE ECONOMY
Dems pumped subprime mortgage market, triggering banking collapse
Published: 19 hours ago
Jerome R. Corsi, a Harvard Ph.D., is a WND senior staff reporter. He has authored many books, including No. 1 N.Y. Times best-sellers "The Obama Nation" and "Unfit for Command." Corsi's latest book is "Where's the REAL Birth Certificate?"More ↓
In the current narrative presented by Democratic Party operatives, the banking industry collapse of September 2008 was caused by tax cuts under George W. Bush and supply-side economics tracing back to the era of Ronald Reagan.
The narrative, however, ignores the personal responsibility Barack Obama and Democratic Party operatives played in creating the subprime mortgage market, beginning with the passage of the Community Reinvestment Act of 1977.
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The 2008 banking collapse was triggered by a series of failures in the mortgage-backed securities market resulting from massive defaults in the subprime mortgage market and derivatives supporting the mortgage market that caused Lehman Brothers and Bear Stearns to go bankrupt. Financial giants such as Freddie Mac, Fannie Mae, Merrill Lynch and AIG threatened to follow suit, as detailed by the Guardian of London.
As WND reported in May 2009, Obama himself played a role as an activist lawyer in Chicago, representing ACORN in the 1994 case Buycks-Roberson v. Citibank Federal Savings Bank. In the case, ACORN pressed Citibank to make more loans to marginally qualified African-American applicants “in a race neutral way.”
ACORN Housing, then a nationwide organization with offices in more than 30 cities, used the Citibank litigation to push the group’s radical agenda to get subprime homebuyers mortgages under the most favorable terms available.
Community Reinvestment Act of 1977
The Community Reinvestment Act, or CRA, was signed into law by President Jimmy Carter in 1977 with the goal of forcing banks to provide credit to businesses and homeowners with poor credit.
The CRA’s purpose was to stop banks from “red-lining,” or refusing to lend to people in low-income areas because the risk of the loan not being repaid was too high.
Even though lending to people with poor credit is inherently risky, the Carter administration was intent on forcing banks to accept a social responsibility to provide credit to homeowners and businesses in low-income neighborhoods.
The CRA was super-charged during the Clinton administration with a set of new rules that allowed subprime mortgages to be securitized.
Federal Reserve Chairman Ben Bernanke, in a speech to the Community Affairs Research Conference in Washington, D.C., on March 30, 2007, noted a 1992 law passed during the Clinton administration expanded the CRA market by requiring the government-sponsored enterprises Fannie Mae and Freddie Mac to securitize “affordable housing loans,” a euphemism widely understood to mean low-income housing loans.
Clinton expands subprime mortgage market
Securitization of mortgages into bonds, a process that became a multi-trillion-dollar business in the 1990s, increased dramatically the liquidity, or amount of money available, to make new home loans.
Because mortgage originators could sell their mortgages to investment bankers, creating mortgage-backed securities, mortgage originators did not have to hold the mortgage in their portfolio. As a result, mortgage lenders could more easily engage in riskier lending, including lending to less qualified buyers in the subprime market.
By allowing CRA-generated and other subprime mortgages to be included in mortgage-backed securities, the Clinton administration advanced a social agenda to extend homeownership into inner-city poverty, where prospective homeowners were typically not qualified to obtain a mortgage.
By definition, subprime lenders are not credit-worthy under normal lending standards. They typically cannot meet normal lending requirements to verify income and have a history of credit problems.
Gretchen Morgenson and Joshua Rosner, in their 2011 book “Reckless Endangerment,” detailed how the subprime mortgage crisis resulted in the collapse of financial institutions in September 2008. The authors demonstrated, as noted on page 3 of the book, how Clinton’s “calamitous” homeownership strategy developed and “came to blow up the economy.” The authors calls it a “story of greed, good intentions, corporate corruption and government support.”
In the aftermath of the U.S. government takeover of Fannie and Freddie, attention focused on three prominent Democrats who served as Fannie Mae executives: Franklin D. Raines, former Clinton administration budget director; James Johnson, former aide to Democratic Vice President Walter Mondale; and Jamie Gorelick, former Clinton administration deputy attorney general.
All three prominent Democrats earned millions in questionable compensation while serving as top Fannie Mae executives.
Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004; Johnson earned $21 million in just his last year serving as Fannie Mae CEO, serving from 1991 to 1998; and Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003.
All three were subsequently involved in mortgage-related financial scandals concerning their stewardship at Fannie Mae.
Franklin Raines
Franklin Raines’ problems began in 2004, when Fannie Mae’s regulator, the Office of Federal Housing Enterprise Oversight, or OFHEO, and the Security and Exchange Commission’s top accountant issued reports charging that under Raines’ stewardship Fannie Mae had misstated earnings for three and a half years.
The $9 billion restatement of earnings required by the OFHEO and SEC ended up wiping out 40 percent of Fannie Mae’s originally stated profits from 2001 to mid-2004.
Raines resigned from Fannie Mae in December 2004, with a $19 million severance package.
Raines continued playing the victim until April 2008, when he and two other Fannie Mae top executives were ordered in a civil lawsuit to pay nearly $31.4 million for their roles in what amounted to an Enron-like accounting scandal.
Raines and the other Fannie Mae executives were accused in the civil suit of manipulating Fannie Mae books to manufacture earnings over a six-year period that stretched from 1998 through 2004 to trigger for themselves millions of dollars in otherwise unearned bonuses.
In the final settlement, Raines was also forced to give up Fannie Mae stock options then valued at $15.6 million.
A controversy broke out when the Washington Post noted in July 2008 Raines had taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.
Republican presidential candidate Sen. John McCain ran a television advertisement using the Post article as a source to claim Raines was an Obama adviser. But Raines issued a denial that he was an adviser to Obama or that he had provided the Obama campaign with advice on housing or economic matters.
In September 2008, as the controversy developed, the Washington Post stood behind its original report, noting Raines statement that month that he never provided Obama’s campaign with advice on housing or economic matters contradicted what he told the newspaper in July 2008.
James Johnson
James Johnson was appointed to head Obama’s vice presidential selection committee until a controversy concerning an alleged $7 millions in questionable real estate loans he received on favorable terms from failed sub-prime mortgage lender Countrywide Financial surfaced and forced him to resign.
The controversy over Johnson began when the Wall Street Journal reported June 7, 2008, that Countrywide had extended to Johnson and Raines millions of dollars in favorable home loans because they were “Friends of Angelo,” or “FoA,” as such preferential borrowers were known in the inner circles of Countrywide.
The Wall Street Journal carefully noted there is nothing illegal about a mortgage firm treating some borrowers better than others.
Yet, when two top Fannie Mae executives received the preferential mortgage treatment, it spelled political trouble for the government-sponsored, shareholder-owned company, as well as for the Democratic Party and the Obama presidential campaign with which Raines and Johnson were connected.
A lawyer for Johnson insisted to the Wall Street Journal that Johnson’s Countrywide home mortgage loans were within industry practice; Raines did not respond to the newspaper’s requests to comment.
Jamie Gorelick
In 1998, Fannie Mae Vice Chairman Jamie S. Gorelick received a bonus of $779,625, despite her alleged involvement in a scandal in which Fannie Mae employees falsified signatures on accounting transactions to manipulate books to meet 1998 earning targets. The targets, in turn, triggered multi-million-dollar bonuses for top executives, including Gorelick.
The 1998 bonus reported for then-Fannie Mae Chairman and CEO James Johnson was $1.932 million. Then-Chairman-designate Raines received $1.11 million.
After leaving Fannie Mae, Gorelick encountered controversy a second time, over an alleged conflict of interest when a 1995 memo she authored as deputy attorney general at the Justice Department during the Clinton administration surfaced while she was a member of the 9/11 commission.
The memo, which outlined a policy that became known as the “Gorelick Wall,” appeared to put in place barriers that barred federal anti-terrorist criminal investigators from accessing various federal records and databases that may have assisted them in their criminal investigations.
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