“Too big, and too well connected to fail”
The ONE Trillion dollar bail out
The biggest fraud in History!
The Missing "PERP WALK"
Politically connected CEO will go to jail
Or is even required to take a PAY CUT
In any of the financial restructuring proposals
Guaranteed by the full faith and credit
Of the American People
Franklin Raines, Former CEO Fannie Mae advises Barack Obama on economic matters.
Jim Johnson, Former Fannie Mae CEO to Help Barack Obama Choose Running Mate.
Under Franklin Raines, Fannie Mae committed "extensive financial fraud."
Raines made millions. Fannie Mae collapsed. Taxpayers? Stuck with the bill."
Sen. Barack Obama is one of the largest individual recipient at about $105,849
From Fannie Mae, federal campaign finance reports show.
The OBAMA Fannie Mae - Franklin Raines - Jim Johnson Connections ...
Washington Post reporter, Anita Huslin, who wrote a Style section profile of the discredited Fannie Mae boss that appeared on July 16. 2008 reported that Raines, who retired from Fannie Mae four years ago, had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."
Since the Fannie Mae collapse,
The Obama campaign has vehemently denied that Franklin Raines really wasn't an Obama adviser. So yeah. Obama seeking advice from Raines is not the same as Raines advising Obama.
Fannie Mae and Freddie Mac Invest in Democrats & used huge lobbying budgets and political contributions to keep regulators off their backs.
Top Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
§ Dodd, Christopher J D-CT $133,900
§ Kerry, John D-MA $111,000
§ Obama, Barack D-IL $105,849
§ Clinton, Hillary D-NY $75,550
§ Kanjorski, Paul E D-PA $65,500
Fannie and Freddie have been creations of the congressional Democrats and the Clinton White House, designed to make mortgages available to more people and, as it turns out, some people who couldn't afford them.
Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions.
§ Franklin Raines ran Fannie and collected $50 million. Clinton’s White House Budget Director
§ Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million.
§ Jim Johnson, Former Fannie Mae CEO, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job.
Who is Jim Johnson?
Jim Johnson served as Fannie Mae CEO from 1991 to 1998 and has a long history in both Washington politics and business.
He served on the boards of numerous companies, including
§ The Goldman Sachs Group,
§ KB Home,
§ Target Corporation,
§ Vice Chairman of Perseus LLC.
§ Corporate finance managing director for Lehman Brothers.
He was an executive assistant for Vice President Walter Mondale (1977-1981) and a U.S. Senate staff member. Johnson also helped screen running mates for Democratic presidential nominees Walter Mondale in 1984 and John Kerry in 2004.
Investment bank Bear Stearns Cos. Was bailed the Federal Reserve and from JPMorgan Chase & Co.
Lehman Brothers bankruptcy is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago.
Merrill Lynch sold, has written down more than $40bn of assets, Bank of America will pay about $29 for each Merrill share.
Freddie Mac & Fannie Mae combined GSE bankruptcy losses of at least $14.9 billion.
AIG, American International Group Inc insured the Mortgaged back securities requires 85 billion dollar bail out from the Federal Reserve.
Foreign-based banks with big U.S. Operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night.
Treasury Secretary Henry Paulson confirmed that coverage of foreign-based banks is "a distinction without a difference to the American people."
In other words, the US citizen will be required to bail out foreign based bank speculators too ...
The "Bad Loans" that are being purchased by the full faith and credit of the American People, are worthless mortgage backed securities that the American citizen will be required to pay full price for to those greedy speculators of the world who thought they were going to make a killing on American sub prime mortgage schemes ...
Yep he's on the right foot hiring tax dodgers to fill his cabnet you bet and it's going to get worse.