Where are the men who brought down Wall St.?

louixo

Veteran Expediter
Charter Member
Where are the three men who brought down Wall

Street?


WhERE ARE THEY NOW? Surprise Answer At The End...
The

three men who brought down Wall Street. Here's a quick look into the three

former Fannie Mae executives who brought down Wall Street (Remember the housing

bubble, and the recession?).

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 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 bo ard 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.

So, 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? Johns on 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. Our government seems

to be rotten to the core!!!!

So, this is how we reward corruption and

ineptness? In a different administration these men could be prision.

In another country, they could be executed. Here, we make them part

of Big Government. No Change, No Transparancy, and soon... No

America.
 

clcooper

Expert Expediter
Sorry to say, this isn't correct. You need to BOOKMARK snopes.com because this isn't the first time this has happened!

Maybe you could try reversing this link in your email to whoever sent you this.....

so you are saying this is not true

[/QUOTE]
So, this is how we reward corruption and ineptness? In a different administration these men could be prision.
In another country, they could be executed. Here, we make them part
of Big Government. No Change, No Transparancy, and soon... No America. .....[/QUOTE]
 

mjmsprt40

Veteran Expediter
Owner/Operator
Now I know how to get around the "Send this to ten people or God won't like you" phrasing that comes at the end of the chain emails I get. Just post them here, problem solved.

Er, ahhh--- special note: I never, under any circumstances, forward chain letters of any kind. That stuff about not being a Patriot or of offending God if I don't is the stuff that stops me cold. How could I dare to send that to my friends?
 
Top