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 wasnt 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.