The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Obama’s Economic Adviser is a Recent Former CEO of Fannie Mae and Oversaw a $6.3 Billion Accounting Debacle, Was Paid $90 Million For His “Stewardship”… that was your money folks!

Posted by iusbvision on September 17, 2008

Frank Raines (left) Timothy Howard

Franklin Raines was Clinton’s former UMB Director, is a former CEO of Fannie May, was paid a total of $90 MILLION for his tenure at Fannie May, who was forced to resign due to a $6.3 billion accounting debacle he oversaw in 2004, and James Johnson former Vice-Chair of Fannie Mae and Managing Director of Lehman Brothers….. Raines and Johnson are the current economic advisors for Barack Obama. Raines was in charge when most of these high risk, sub prime rate loans were being given away; the primary catalyst to Fannie Mae’s collapse.

Yup it’s true. Details HERE and pay attention to the OFHEO report & summary.

Congress knew – Republicans tried to reform it twice and were stopped.

UPDATE: LOL – Obama Campaign Denies These Guys Worked On or Advised the Campaign…

This is hilarious, everyone knows these guys have been with Obama for months, the press has reported it for months. An Obama Campaign spokeman just said on The Fox Report with Shep Smith that these guys “don’t exist”. Is the elite media so in the tank that they won’t blast Obama for this obvious whopper?? We will see.

UPDATES: HERE and HERE.

2 Responses to “Obama’s Economic Adviser is a Recent Former CEO of Fannie Mae and Oversaw a $6.3 Billion Accounting Debacle, Was Paid $90 Million For His “Stewardship”… that was your money folks!”

  1. nmorton said

    Yep I had just added the McCain attempt to reform Fannie and Freddie when I saw your comment. Nice to see he was on to them even before Obama entered the senate

  2. […] who is lying through his teeth again? Check out the latest corruption with the Obama people: Obamas Economic Adviser is a Recent Former CEO of Fannie Mae and Oversaw a $6.3 Billion Accounting … Where there is socialism/communism there are Elitists. Obama Adviser And Former Fannie Mae CEO […]

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