...AND NOW WE ALL HAVE TO PAY FOR IT!HAVE YOU WONDERED; WHO ARE THE PEOPLE THAT HAVE HARMED OUR COUNTRY AND COST THE HARD WORKING TAXPAYERS SO MUCH?
HAVE YOU WONDERED IF WILL THEY EVER BE HELD ACCOUNTABLE?
HAVE YOU EVER FELT POWERLESS TO DO ANYTHING ABOUT THESE EXECUTIVES WHO STEAL BILLIONS FROM YOU AND I UNDER THE PROTECTIVE UMBRELLA OF GOVERNMENTAL POWER AND
PRIVILEGE?
WHAT CAN WE DO?
I THINK, FOR STARTERS, WE SHOULD AT LEAST LEARN WHO THEY ARE.
THEN, WE CAN WORK TO MAKE THEM FAMOUS FOR THEIR ASSOCIATIONS WITH THIS TREMENDOUS FAILURE.
Fannie Mae executives receiving large bonuses in 1998:
Fannie Mae reported paying the following executive bonuses in 1998: chairman and chief executive
James A. Johnson received $1.932 million;
Franklin D. Raines, chairman-designate, received $1.11 million; Chief Operating Officer
Lawrence M. Small received $1.108 million; Vice Chairman
Jamie S. Gorelick received $779,625; Chief Financial Officer
J. Timothy Howard received $493,750; and
Robert J. Levin, an executive vice president, received $493,750.
If you know something more about these people (facts with sources) -or- If you know of others who should be identified (facts with sources), please add your information in the comments section below.
HERE'S A VIDEO showing some of the US Congress Members that were responsible for failed oversight:
http://www.youtube.com/watch?v=_MGT_cSi7RsJames A. Johnson (businessman):
James A. Johnson is a
United States Democratic Party political figure. He was the campaign manager for
Walter Mondale's failed
1984 presidential bid and chaired the vice-presidential selection process for the
presidential campaign of
John Kerry.
Johnson has long been one of Washington's most prominent leaders, holding leadership positions in business, the arts, and politics. From 1991 to 1998, he served as chairman and chief executive officer of the
Federal National Mortgage Association (Fannie Mae), the quasi-public organization that guarantees mortgages for millions of American homeowners. Previously, he was vice chairman of Fannie Mae (1990-1991) and a managing director with
Lehman Brothers (1985-1990).
As of
2006, he is a vice chairman of the private banking firm Perseus
LLC, a position he has held since 2001. He is also a board member at
Goldman Sachs,
Gannett Company, Inc., a media holding group,
KB Home, a home construction firm,
Target Corporation,
Temple-Inland, and
UnitedHealth Group.
Johnson has also served as chairman of both the
Kennedy Center for the Arts (1996-2004) and the
Brookings Institution (1994-2003). He is also a member of the
American Academy of Arts and Sciences, the
American Friends of Bilderberg, the Council on Foreign Relations, and the
Trilateral Commission.
Johnson began his career as a faculty member at
Princeton University, later moving on to the
United States Senate as a staff member and to the Dayton-Hudson Corporation (now Target Corp.) as director of public affairs. He was executive assistant to Vice President Walter Mondale during the entire
Carter Administration (1977-1981). Later, he founded and headed Public Strategies, a private consulting firm, from 1981 to 1985 before leaving for Lehman Brothers.
Also a member and attendee of
Bilderberg Organization.
External links
James A Johnson bio at Goldman Sachs
A Medici With Your Money - article critical of Fannie Mae at
Slate magazine
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Franklin D. RainesFranklin D.
Raines (1949–)
Chairman and chief executive officer, Fannie Mae
Nationality: American.
Born: January 14, 1949, in Seattle, Washington.
Education: Harvard College, BA, 1971; Oxford University, 1971–1973; Harvard Law School, JD, 1976.
Family: Son of
Delno and Ida
Raines (both custodians); married Wendy Farrow; children: three.
Career: Office of Senator
Moynihan, 1969, intern; Seattle Model Cities Program, 1972–1973, associate director; Preston,
Thorgrimson, Ellis, Holman & Fletcher, 1976–1977, attorney; White House Domestic Policy Staff, 1977–1978, assistant director; U.S. Office of Management and Budget, 1978–1979, associate director;
Lazard Frères & Company, 1979–1982, vice president; 1983–1984, senior vice president; 1985–1991, partner; Fannie Mae, 1991–1996, vice chairman; U.S. Office of Management and Budget, 1996–1998, director; Fannie Mae, 1998, chairman; 1999–, chairman and chief executive officer.
Address: Fannie Mae, 3900 Wisconsin Avenue NW, Washington, D.C. 20016; http://www.fanniemae.com.
The first African American CEO of a Fortune 500 corporation, Franklin D.
Raines was named chairman and CEO of Fannie Mae on January 1, 1999. Under his leadership, Fannie Mae—short for the Federal National Mortgage Association—remained a major player in what
Raines called the "American Dream Business," (Financial Times, October 29, 2002) continued its record of double-digit operating income growth, expanded its product and technology leadership, and committed to invest $2
trillion to finance affordable
homeownership and
rental housing for 18 million families.
In 2003, with revenues of $53.8
billion, Fannie Mae was the number one source for home
mortgage financing in the United States, providing liquidity in the
mortgage market by buying mortgages from lenders and packaging them for
resale, transferring risk from lenders and allowing them to offer mortgages to those who may not otherwise qualify. Fannie Mae was one of several government-sponsored enterprises, which were stockholder-owned companies created by Congress to carry out a public-policy purpose with private capital. Fannie Mae bought home loans from banks and other mortgage lenders, providing those lenders with a fresh supply of cash to make new loans. Fannie Mae also invested in mortgage-backed securities. It benefited from low interest rates, tax exemptions, and an
implicit guarantee of federal support.
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Lawrence M. SmallLawrence M. Small
Lawrence M. Small was the
President and
Chief Operating Officer of the
Federal National Mortgage Association and the 11
th Secretary of the
Smithsonian Institution.
Background
Small graduated from Brown University 1963 with a Bachelor's Degree in Spanish literature. He held executive positions in
Citicorp and
Citibank before becoming the President and COO of the FNMA, a position he held between 1991 to 2000.
[1] He is a director of the
Chubb Corporation and serves on the boards of
Marriott International, Inc., New York City's Spanish Repertory Theatre, the
National Gallery of Art, the
John F. Kennedy Center for the Performing Arts and the
Woodrow Wilson International Center for Scholars.
[2]Time at the Smithsonian
The Smithsonian's Board of Regents appointed Small as the Secretary on January 24, 2000 on the strength of his management experience and hoped-for ability to improve the institution's financial position. He instituted commercial sponsorship of museum exhibitions at the Smithsonian.
[3] Roger
Sant, the chairman of the executive committee of the Board of Regents, claimed that Small had helped raise $1.1 billion for the institution and contributed half a million dollars himself.
[4]In 2001, Small withdrew his proposal to close the the
Smithsonian National Zoological Park's
Conservation and Research Center in
Front Royal, Virginia after strong opposition from scientists.
[5]In 2004, Small pleaded guilty to violating federal bird-protection laws (
ESA,
CITES,
MBTA) by owning Amazonian tribal artifacts that contained feathers of protected bird species.
[6]In 2006, the Smithsonian agreed to a deal with
Showtime to create Smithsonian Networks, a joint venture to create television programming with the Smithsonian's resources. Controversy over the deal emerged when it was disclosed that the network had the right of first refusal for commercial documentaries that rely heavily on Smithsonian collections or staff.
[7]In 2007, Acting Smithsonian Inspector General A.
Sprightley Ryan reviewed Small's expenses and reported that $90,000 of expenses between 2000 and 2005 were unauthorized, prompting the watchdog group
Citizens for Responsibility and Ethics in Washington to call on the Attorney General
Alberto R. Gonzales to investigate whether the spending violated federal law.
[8] The U.S. Senate froze a $17 million appropriations increase for the Smithsonian, citing Small's compensation as excessive. On March 26, Small resigned from his position.
[9]A subsequent independent report commissioned by the Smithsonian was highly critical of Small's "imperialistic and insular" management style, including documented resistance to sharing information with the Regents and the audit committee. It also disputed claims earlier made on Small's behalf (see above) on the extent of his personal fund-raising achievements. The Smithsonian in response acknowledged the need to institute reforms in its governance and oversight arrangements.
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Jamie S. GorelickJamie S. Gorelick (born
May 6,
1950) is an
American attorney and judicial officer who was Deputy
Attorney General of the United States during the
Clinton administration. She was also appointed by Senate Democratic Leader
Tom Daschle to serve as a commissioner on the bipartisan
National Commission on Terrorist Attacks Upon the United States, which sought to investigate the circumstances leading up to the
terrorist attacks of September 11, 2001.
Gorelick (
IPA: [ˌgə ˈrɛl ɪk]) grew up in
Great Neck,
New York where she attended South High School.
[2] She obtained her B.A. (
magna cum laude) from
Harvard University in 1972, where she was desigated
Radcliffe Orator, and a J.D. (
cum laude) from
Harvard Law School in 1975.
Gorelick joined the
Washington, D.C. law firm Miller, Cassidy, Larroca and Lewin in 1975 and worked for them as a litigator until 1993, except for 1979 to 1980 when she was an assistant to the U.S.
Secretary of Energy. Gorelick was president of the District of Columbia Bar from 1992 to 1993.
Under the Clinton administration, Gorelick served as general counsel of the
Department of Defense from 1993 to 1994, when she was appointed Deputy Attorney General of the United States, the No. 2 position in the
Department of Justice. Gorelick served as Vice Chairman of the
Federal National Mortgage Association from 1997 to 2003.
She is currently a law partner in the Washington office of
WilmerHale and a non-executive director of the oilfield services provider Schlumberger Ltd.
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J. Timothy HowardI couldn't find information quickly on this guy... Don't worry... I'll fill in the blanks when I get some more time.
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Robert J. LevinI couldn't find information quickly on this guy... Don't worry... I'll fill in the blanks when I get some more time.
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Sources:
http://www.washingtonpost.com/wp-dyn/articles/A32845-2005Apr6.htmlhttp://www.answers.com/
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