Who is Franklin Raines?
I want to know.
Fannie and Freddie collapsed because they were part and parcel of the widespread gross financial misconduct that has taken place in the United States over the past decade. It’s easy to miss this fact, but the reality is that too many people were making too much money pumping up the housing market.
[...] Fannie Mae was always a political beast, but it reached its elbow-swinging heights during the time when former Clinton administration budget director Franklin Raines sat in the CEO chair. Under Raines’ leadership, Fannie overstated earnings by a stunning $10.6 billion, all the while paying Raines and his senior management team massive bonuses.
Interesting. So why is this important?
Two members of Mr. Obama’s political circle, James A. Johnson and Franklin D. Raines, are former chief executives of Fannie Mae.
Oh. Well there you go.
via Hot Air
This does not suprise me at all that Obama has another close “friend” that is SO STINKING CORRUPT and bad for this country! Now Raines, it was Jim Johnson, Bill Ayers, Tony Rezko and the America hating Rev. Wright.
Americans need to wake up and see the Kool-aid the Barry Obama camp is pooring for them. Pure garbage.
Nobama….Keep the Change