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Obama's Car for your Future

Items regarding this issue has been on the internet for several days.  Dale Satterlee has forwarded this.
 
Where are they now?
Dale Satterlee

The following is fact and not in dispute.  Every word has been taken  from  company records, government agency records, court records and  newspaper articles at the time.
Here is a quick look into three former Fannie Mae executives who have  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. At the time of his departure The Wall Street Journal  noted, Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday  conceding  that 'mistakes were made' and saying he would assume responsibility as  he  had earlier promised. News reports indicate the company was under  growing  pressure from regulators to shake up its management in the wake of  findings that the company's books ran afoul of generally accepted  accounting principles for four years.'  Fannie Mae had to reduce its  surplus by $9 billion.  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. 
http://housingdoom.com/2006/12/18/fannie-charges/
The Government noted, 'The 101 charges reveal how the individuals  improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls,  misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate  capital reports that enabled them to grow Fannie Mae in an unsafe and  unsound manner.'  These charges were made in 2006.  The Court ordered  Raines to return $50 Million Dollars he received in bonuses based on the  miss-stated Fannie Mae profits.

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. In everyday English -  he  was cooking the books .  The Government Investigation determined that,  'Chief Financial Officer, Tim Howard, failed to provide adequate  oversight to key control and reporting functions within Fannie Mae,'  On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice  Department  to investigate his allegations that two former Fannie Mae executives  lied  to Congress in October 2004 when they denied manipulating the  mortgage-finance giant's income statement to achieve management pay bonuses. 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 - A former executive at Lehman Brothers and who was  later forced from his position as Fannie Mae CEO.  A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on  mismanagement  and corruption inside Fannie Mae, and you'll see some interesting  things  about Johnson. 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 Chief  Economic Advisor

TIM HOWARD - Howard is also a Chief Economic Advisor to Obama

JIM JOHNSON – Johnson is Senior Obama Finance Advisor and was selected to  run Obama's Vice Presidential Search Committee

OBAMA PLANS ON CLEANING UP THE MESS

 Would you trust the men who tore Wall Street down to build the New  Wall Street?