Joyanna Adams

Nobody's Opinion

The Golden Parachute Keeps Opening…

Nobody Knows

—That this was an email that I found very disturbing, so I’m not waiting till the weekend to post it. Besides, not too many people know exactly what happened to the men who ran Freddie and Fannie.

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Where are they now? The three who bought down Wall Street– Here’s a quick look into the three former Fannie Mae executives who brought down Wall Street.

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 Howardwas 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, was 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 Committee.

Kinda makes ou feel sick to your stomach. Our government seems to be rotten to the core: or as the great general would say: “I small a RAT!” Vote in 2012. It is the most important election of our time.

(Thanks to Tom Beebe)

Nobody Notes: The black man’s golden parachute was a LOT bigger than the white men’s.

January 10, 2012 - Posted by | Angry Citizens, corruption, criminals, democrats, Obama | , , ,

9 Comments »

  2. Sorry Joyanna, but the previous person who noted the refuting by Snopes was correct. The documentation in this particular instance is really very clear that the information is NOT true. This one has been going around for a while and varies a little.

    In addition, Snopes has no ties whatsoever to Soros or ANY political organization. They opened up the books to reporters because of the conspiracy theorists claims.

    I appreciate your position, but in this case there is so much evidence to refute these claims. I encourage you to do your homework a little before perpetuating falsehoods.

    Like

    Adam's avatar Comment by Adam | January 23, 2012 | Reply

  3. Hey, My personal thoughts on this material are that it’s well-written, intelligent and easy to understand. I appreciate this kind of useful information, especially when it is this good. In time your site will discover its potential. Later.

    Like

    pozycjonowanie warszawa's avatar Comment by pozycjonowanie warszawa | January 18, 2012 | Reply

  4. According to Snopes this is not true at all.

    Like

    dancermommd's avatar Comment by dancermommd | January 12, 2012 | Reply

    • Yeah, According to the lastest research, Snopes is run by George Soros and it’s only job is to refute all nasty Obama rumors.   Who do you beleive?   You ask yourself…does it sound about right? Did we REALLY go to the moon? Did JFK REALLY  murder Monroe? Are twinkies REALLY going to disappear from our shelves? Would Obama hire the very people that caused all this turmoil? And if he is out to “change” America, wouldn’t that be a good idea on his part?   We fill our days with doubt and confusion…which is exactly the plan.

      Joyanna Adams

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      Joyanna Adams's avatar Comment by joyannaadams | January 12, 2012 | Reply

  5. Well, thanks for that. I think I just churned breakfast around a bit this morning. My mother worked for the Election Board as I was growing up. There is no way I would miss an election and usually worked the polls as well. You better believe I will be there voting!! It is too important to just let it slide.

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    dancermommd's avatar Comment by dancermommd | January 11, 2012 | Reply

  6. I have mentioned before the primary issue about the American ‘psyche’. There seems to be – at the leadership end – a total absence of Integrity. It spreads throughout the society. A void of decay with different growths of fungus, strangling the soul.

    I do not wish to imply that other national psyches are particularly different.

    That senior Individuals can simply accept such enormous sums as their ‘due’, entitled to it,, and their peers raise no objection at all, awaiting their turn at the trough, speaks volumes. But who hears?

    The better bail-out fee should be 50c worth of full metal jacket.

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    Amfortas's avatar Comment by Amfortas | January 10, 2012 | Reply

  8. In the good old, bad old days, this was called racketeering. I see occasional calls for this kind of thing to be prosecuted under the RICO statutes. It’s a nice idea, ,but it would be like having the bartender from the movie “Goodfellas” for a judge.

    The Daily Climb

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    georgesblog360's avatar Comment by georgesblog360 | January 10, 2012 | Reply


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