Obama Pictures canvassing in Holland, Ohio

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Sun Oct 12, 4:28 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., center, talks to supporters as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:28 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., center, talks to supporters as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:34 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, kisses Angela Zimmann as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:36 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, shakes hands as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:38 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., center, campaigns in Holland, Ohio, Sunday, Oct. 12, 2008. (AP Photo/Jae C. Hong)


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Sun Oct 12, 4:41 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, walks with local field organizer Kimberly Heretick as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:54 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., pats a dog as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:55 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, laughs as he greets supporters in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 4:56 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) gets a hug from a supporter as he canvasses a neighbourhood in Holland, Ohio, October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)


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Sun Oct 12, 4:56 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) (2nd R) speaks to voters as he canvasses a neighbourhood in Holland, Ohio, October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)


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Sun Oct 12, 4:56 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) speaks to voters as he canvasses a neighbourhood in Holland, Ohio, October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)


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Sun Oct 12, 4:56 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) speaks to voters as he canvasses a neighbourhood in Holland, Ohio, October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)


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Sun Oct 12, 5:04 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, poses with Angela Zimmann as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 5:05 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., waves to supporters as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 5:06 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., right, poses with supporters as he campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 5:06 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) (C) speaks to a potential voter as he canvasses a neighbourhood in Holland, Ohio October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)


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Sun Oct 12, 5:09 PM ET
Democratic presidential candidate, Sen. Barack Obama, D-Ill., campaigns in Holland, Ohio, Sunday, Oct. 12, 2008.(AP Photo/Jae C. Hong)


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Sun Oct 12, 5:24 PM ET
US Democratic presidential nominee Senator Barack Obama (D-IL) speaks to a potential voter as he canvasses a neighbourhood in Holland, Ohio October 12, 2008. REUTERS/Jim Young (UNITED STATES) US PRESIDENTIAL ELECTION CAMPAIGN 2008(USA)<!-- google_ad_section_end -->
 
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After watching 3 hours of Congressional Committee hearing on the $700 billion "bailout" this morning, this article takes on an almost "hilarious" persona.

Be sure to read the "where they are now"!!








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Here is a quick look into 3 former Fannie Mae executives who have brought down Wall Street.
Franklin Raineswas a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, " Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years."Fannie Mae had to reduce its surplus by $9 billion.
Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. [URL="http://housingdoom.com/2006/12/18/fannie-charges/"]http://housingdoom.com/2006/12/18/fannie-charges/[/URL] . The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner." These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.
Tim Howard- Was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,"
On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congressin October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.
Howard's Golden Parachute was estimated at $20 Million!
Jim Johnson -A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.
Johnson's Golden Parachute was estimated at $28 Million.

WHERE ARE THEY NOW?
FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor
TIM HOWARD?Howard is also a Chief Economic Advisor to Obama
JIM JOHNSON?Johnsonhired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee



IF OBAMA PLANS ON CLEANING UP THE MESS - HIS ADVISORS HAVE THE EXPERTISE - THEY MADE THE MESS IN THE FIRST PLACE. Would you trust the men who tore Wall Street down to build the New Wall Street ?


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I'd rather be Kayak fishing
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Look at those duped idiots lapping up at Obama's feet.
 
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it's unpatriotic to speak to the president that way.
I have a Chuck Baldwin sign on my tree out front so he would pass my house anyway ... I told a couple of pimple faced white kids he had out speading the bull to get out of my yard & they ran.. I was edging the sidewalk with a knife at the time..:lolBIG:
 

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