Sunday, September 06, 2009

Guess Who's Paying to Defend 'Fraud' Raines?

No, not Claude Raines...FRAUD Raines, the disgraced (and very disgraceful) ex-Cookthebooks Executive Officer (CkbkEO) of Fannie Mae.

As a result of the Fannie takeover, taxpayers are paying millions of dollars in legal defense bills for three top former executives, including Franklin D. Raines, who left the company in late 2004 under accusations of accounting improprieties. From Sept. 6, 2008, to July 21, these legal payments totaled $6.3 million. . . .

Raines was given several huge "earned bonus" payments while he was cooking the books to "earn" them, and takes home a large pension, ($114,393 monthly for life, or close to $1.4 million a year,) to boot.

HT: McCain

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