The Insider Players of the Subprime Scandal

I know I've wrote accusing articles against Rep. Barney Frank, Senator Christopher Dodd, Andrew Cuomo, Henry Ciserneros, and Bill Clinton over their part in the Sub-Prime Mortgage scandal that has us in the condition we are in at the present time. Well now it is time to take a look at some names not to many of you will recognize, or remember... Do the names; Franklin Raines, James A. Johnson, and Jamie Gorelick ring a bell? No? All three are Democrats, and all three were top Fannie Mae or Freddie Mac Executives that made a killing off the Sub-Prime feeding frenzy of the late 1990's early 2000's. Lets take them one at a time, okay?

First I'll begin with Franklin Raines, CEO of Fannie Mae from 1999 to 2004, prior to that he was a former Clinton Budget Director, and is now a current Housing Policy advisor to Barack H. Obama. From 1999 through 2004, or until Mr. Raines was forced to resign his CEO position by the very people who gave him the job - the U.S. Congress! Mr. Raines total estimated earning during this above six year time frame was $90 Million (Taxpayer)Dollars! He was accused of "Cooking the Books" Prior to Franklin Raines tenor as Fannie Mae CEO, he followed another unscrupulous Democrat by the name of James A. Johnson...

James A. Johnson became a name in Democratic Political circles when he served as Campaign Manager for Walter Mondale's failed 1984 Presidential Campaign. Then after serving as CEO of the Federal National Mortgage Association (Fannie Mae) from 1991 to 1998 Mr. Johnson served on the Vice Presidential Selection Committee's of both Senator's John F. Kerry in 2004 and Barack Hussien Obama II in 2008. But Mr. Johnson was forced to step down from the vetting processes of Obama's V.P. search because of an ad Senator John McCain ran linking Johnson to the Countrywide Financial Subprime Mortgage Scandal and Countrywide's CEO, Angelo Mozilo. Both Franklin Raines and James A. Johnson were reputed to have recieved loans directly from Mozilo. (Also two key Democratic Senators; Sen.'s Christopher Dodd, D-CT., Senate Banking Committe Chmn., and Kent Conrad, D-ND, recieved large direct loans from Angelo Mozilo and the Bank of America, which bought Countrywide after the scandal broke!) For his time as Fannie Mae CEO, Mr. Johnson was paid a reported $21 Million (Taxpayer) Dollars!

The last Fannie Mae and Freddie Mac Executive involved in the subprime bebacle was a female, Jamie Gorelick. Ms. Gorelick was Vice Chairperson of the FNMA from 1997 to 2003. For her undying dedication and devotion to her job, Ms. Gorelick was compensated $26 Million (Taxpayer) Dollars during her seven year tenor! Ms. Gorelick began her Political Career as a Deputy Attorney General under the Clinton Administration before moving on to the FNMA. Later she was appointed by then Senate Democratic Leader Tom Daschle as a Commissioner on the National Commission on Terrorist Attacks on the United States to investigate the circumstances leading up to the 9/11/2001 Terrorist Attacks.

So there you have it folks, the silent, behind the scenes players in the Housing Scandal, the taxpayer dollars they were compensated for putting us in the position we are presently in. Not only that, but to rub salt in our wounds, nothing was ever done to any of the three and none were made to repay on nickle of the money they ripped us off for! Who was it that said "Crime really pays well"?