Dems: Raines:$91 million;Gorelick $26 million pymts Fannie/Freddie

Discussion in 'Politics' started by healthmyths, Nov 17, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Raines was in charge in 2001, when Fannie chose to create what the SEC dryly called "its own unique methodology" to calculate the earnings impact of its trillion-dollar portfolio of derivatives.

    Raines' total compensation from 1998 through 2004 was $91.1 million, including some $52.6 million in bonuses, according to OFHEO.
    Howard earned $30.8 million during the period, including $16.8 million in bonuses;
    Spencer received $7.3 million, of which some $3.5 million was bonus money.

    Rham Emmanuel, NOW OBAMA CHIEF OF STAFF and Jamie Gorelick were employees and directors of Fannie and freddie took between the two took out over $20 million.

    Gorelick was appointed Vice Chairman of Federal National Mortgage Association (Fannie Mae) from 1997 to 2003.
    She served alongside former Clinton Administration official Franklin Raines During that period, Fannie Mae developed a $10 billion accounting scandal. Gorelick took home $26.46 million in the period from 1998 to 2002 (she left in that year, so she wasnÂ’t there for the entire period under investigation). Of that figure, nearly $15 million came from EPS bonuses.
    and while serving as Deputy Attorney General under Bill Clinton, Gorelick spoke in favor of banning the use of strong encryption and called for a key escrow system to allow the Federal government access to encrypted communication.
     
  2. blastoff
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    blastoff Undocumented Reg. User

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    Quick, someone tell truthmatters! I can't wait to hear how these folks aren't Democrats.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says `bout time somebody got charged...
    :eusa_clap:
    Ex-Fannie Mae and Freddie Mac bosses charged with fraud
    16 December 2011 : The SEC said the former executives had made "material mis-statements"
     
  4. Listening
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    Listening Gold Member

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    I thought Raines had to return a wad of cash.

    Gorelick is the one who slays me.

    Apparently she was as qualified for the job as I am.
     
  5. Oddball
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    Oddball BANNED Supporting Member

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    The rules don't apply to the crooks with the (D) by their name.

    It's right there in the Constitution, next to to the good-and-plenty clause. ;)
     
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