Born in 1949, Franklin Delano Raines (FDR - we're not joking) served as Bill Clinton's White House Budget Director. Raines was former chairman of Fannie Mae and drove the institution into the virtual ground after taking $90 million from it and departing while the investigation into irregularities was just underway. In addition, he gets a pension of over $100,000 per month. That's per month, not per year.
Civil charges were filed against Raines. He was able to settle the lawsuit for a paltry $3 million.
The connection between Obama and Raines was reported in the Washington Post. However, Obama never disputed their relationship, until it was mentioned in a McCain political ad. Then, Obama tried to distance himself from Raines. However, Obama received thousands of dollars in campaign donations from Fannie Mae that made him the second highest recipient of such questionable donations. Just follow the money.
Franklin Raines also received a far below market value mortgage loan from the now defunct Countrywide Financial company.
90 MILLION IN BONUS'S AND 160 MILLION IN LEGAL FEES TO DEFEND THE DEMOCRAT CROOKS,WHO NEVER HAD ANYTHING TO DO WITH THE HOUSING BUBBLE LMAO. THE CRA DESTROYED THE ECONOMY AND IT WAS A DEMOCRAT IDEA FROM THE BEGINNING.
THE 25 MOST RESPONSIBLE FOR THE FINANCIAL CRISIS
READ THIS TIME MAGAZINE REPORT,THAT PROVES LIBERAL LIES ABOUT IT ALL BEING BUSH'S FAULT IS A LIE
Three Ways The CRA Pushed Countrywide To Lower Lending Standards
Read more: http://www.businessinsider.com/three-ways-the-cra-pushed-countrywide-to-lower-lending-standards-2009-6#ixzz20pCD0cA0