DONT RE-ELECT ANY POLITICIAN

political

2008/10/12

dummycrates with Advance the Negro agenda are all to blame !

@ 10:50 AM (1 month, 20 days ago)

Who Is Franklin Raines?

 

Fannie Mae CEO Franklin Raines.

 

Franklin Raines is the former chairman and chief executive officer of Fannie Mae, the government sponsored enterprise started in 1939 to offer mortgages to Americans wishing to become home owners. 

 

After serving as budget director under President Bill Clinton, Mr. Raines served as CEO at Fannie Mae from 2000 until 2004.  While Mr. Raines was CEO, Fannie Mae went deep into the practice of buying mortgages based onalmost no or no money down given to borrowers who could not afford them.  During this time he received bonuses and salary over 90 million dollars.  In 2004 he was offered “early retirement” after the accounting practices used at Fannie during his tenure to secure top executive bonuses were shown to be fraudulent.  Civil charges were filed against Raines and two other former executives which sought $110 million in penalties and $115 million in returned bonuses from the three accused.

 

On April 18, 2008, the government announced a settlement with Raines together with J. Timothy Howard, Fannie's former chief financial officer, and Leanne G. Spencer, Fannie's former controller. The three executives agreed to pay fines totaling about $3 million,
which will be paid by Fannie's insurance policies. When pressed by the Bush administration to tighten downregulations on Fannie Mae and Freddie Mac, members of congress – Republicans and Democrats alike - in positions to pass such regulations, did nothing.  Raines was called "a targeted black man" by Dems.

 

Today, Fannie Mae owns or has guaranteed over half of America’s 12 trillion dollar mortgage market, and we are in the middle of a credit crunch and housing slump brought on in large part by government backed Fannie Mae going down this dangerous credit slope under Mr. Raines.

And where is Franklin Raines today?  He is a chief economic advisor to the presidential campaign of Senator Barack Obama.

Should Obama be our next President we're going to have some whiz-bang Financial Advisors guiding this country through the
Financial mess they helped create. 

 

God help us all..

 

Comment(s) »

  1. See what 40 years of Welfare will get you !

    Comment by jim— 2008/10/12 @ 10:51 AM — (Reply)

  2. "OH GOD" ..HELP US ... THE "EVIL" THAT MEN DO !!!!!!!!!

    Comment by aza spade— 2008/10/12 @ 11:58 AM — (Reply)

  3. Geez Jim. At least pretend not to be a racist. :)

    BG

    Comment by Barry G.— 2008/10/12 @ 04:02 PM — (Reply)

  4. Pre tension always leeds to Assumptive behavior ! note the 1st 3 letters of assumtion .

    Comment by jim— 2008/10/12 @ 04:10 PM — (Reply)

  5. Come on BG.

    Comment by jim— 2008/10/12 @ 04:11 PM — (Reply)

  6. No offense Jimbo. Kind of caught me off guard.

    BG

    Comment by Barry G.— 2008/10/12 @ 04:20 PM — (Reply)

  7. Ya , Thats me , u lookin for the left and I deliver a Right ! hahaa

    Comment by jim— 2008/10/12 @ 04:46 PM — (Reply)

  8. Not me. I'm no liberal. Not by a longshot.

    Bg

    Comment by Barry G.— 2008/10/12 @ 04:55 PM — (Reply)

  9. hahahaaa
    hahaha oh the Stinch !

    Comment by jim— 2008/10/12 @ 05:30 PM — (Reply)

  10. Bedtime reading Jimbo?

    d

    Comment by Ed— 2008/10/12 @ 06:00 PM — (Reply)

  11. What brings you to that conclusion ?

    Comment by jim— 2008/10/12 @ 06:16 PM — (Reply)

  12. Nice album cover !

    Comment by jim— 2008/10/12 @ 06:17 PM — (Reply)

  13. :wink:

    Comment by Dugg— 2008/10/12 @ 07:02 PM — (Reply)

  14. :lol:

    Comment by The Dudeler— 2008/10/13 @ 05:24 AM — (Reply)

  15. Making comment on how this economic crisis all began isnt Rascists ! I Could be James Harris conservative Radio talk show host. Black as any African out there ! I'm just saying The Naacp and Acorn ARE organized criminal institutions dedicated to 1. Affirmative action which is positioning those unqualified persons into underservant office. 2.Designed to twist the arm of anyone who appears to be using intellegent business proceedures of pre loan qualifing. Oh and Did I fail to mention anything about LULAC ? hummmmmm another criminal enterprize !

    Comment by jim— 2008/10/13 @ 05:44 AM — (Reply)

  16. It's this one Jim:

    All Negroes please exercise your Rights of Emancipation ! select your flight and return to the fatherland ! please feel free .

    Comment by jim— 2008/10/12 @ 03:49 PM — (Reply)

    Comment by Ed— 2008/10/13 @ 08:11 AM — (Reply)

  17. Hummmmm, Rascist to provide directions toward Fullfilment and enlightenment ? even Jeremiah Wright said God Damn America ! With a obvious tone of I dont like it here ! If he dont like it here he can always Leave ! He doesnt have to Stay. if it is so bad here for him . He could Go there and Make it better there for his distant relatives !

    Comment by jim— 2008/10/13 @ 08:45 AM — (Reply)

  18. Jimbo, you're a good guy and I think we probably have exhausted this topic. :)

    Comment by Ed— 2008/10/13 @ 09:10 AM — (Reply)

  19. Nawwwww I'm Just Mad ! Venting helps me ! That way I dont go around Kicking my Cat or ? whatever else I feel like otherwize killing !

    Comment by jim— 2008/10/13 @ 09:45 AM — (Reply)

  20. It was just on Neil cavuto ! Acorn twisted the arms of local bankers in the 89-93 years threatening Rascists accusations against banks for not participating in the comunity re-investment act. The banks said Freddie and Fannie wont buy all these risky loans ! So acorn hire washington lobbyists to twist the arms off congress. Acorn finally found a Champion in Clinton who used greenspan to remove financial laws writen from the 29 stock crash and reversed them. Clinton Championed the Acorn Agenda ! And Acorn is not working for the Advancement of White People if you know what I mean !

    Comment by jim— 2008/10/13 @ 12:36 PM — (Reply)

  21. But Nobodies talking about this or are they ?

    Comment by jim— 2008/10/14 @ 06:49 PM — (Reply)

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