Mark & Juanita wrote:
Lew Hodgett wrote:

"Mark & Juanita" wrote:

I want to see Lew rant equally about those who initiated this
mess --
Nice try to divert the discussion, but that crap doesn't stick on the
wall.

Back to the subject.

What's next?

Lew

Yep, that's pretty much what I expected. ... and people accuse *me* of
being partisan.

It doesn't take much rummaging around to find significant amounts of
issues with Fannie Mae and Freddie Mac; problem is, they all lead to Lew's
favorite party. One of the Obama's leading economic advisors is Frank
Raines, the guy who got off with over $50M while Fannie Mae was writing
mortgages for which we taxpayers are going to wind up paying.


Close but no cigar. This from
http://firstread.msnbc.msn.com/archi...9/1427108.aspx

From NBC's Mark Murray and NBC/NJ's Adam Aigner-Treworgy
On the campaign trail in Minnesota today, McCain incorrectly suggested
that the executive pay that former Fannie Mae CEOs Frank Raines and Jim
Johnson earned came from taxpayers.

"That same executive got $21 million of your money," McCain said of
Johnson. "And the other CEO, another supporter of Senator Obama, Mr.
Raines got $25 million of your money. Let's tell them to give it back.
Let's tell them to give it back."

Lucian Bebchuk of Harvard Law School, an expert on corporate governance,
confirmed to First Read that Fannie Mae and Freddie Mac were private
companies until being recently taken over by the federal government
(which came after Raines' and Johnson's tenures).

Bebchuk said that maybe McCain was referring to past Fannie shareholders
in the audience when he asserted that the executive compensation was
"your money." Or perhaps McCain was making the point -- very loosely --
that now the federal government has taken over Fannie, any money that
Raines or Johnson received is money taxpayers no longer have. But both
assertions, he said, would be stretches.

Rich Ferlauto, the director of corporate governance and pension
investment at the American Federation of State, County, and Municipal
Employees -- a union which has endorsed Obama in the presidential
contest -- was more blunt about Raines' and Johnson's compensation

"It was not taxpayer money," he said. "It was shareholder money."

hang in there,
jo4hn