http://money.cnn.com...rices/index.htm
Most agree that the run up in oil prices was due to speculation and not demand, this is the
result of an unregulated financial system.
Bob, let's examine that "unregulated financial system" and some of who benefited from it and most interesting, where are they now!
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Where are Jim, Tim, and Franklin now?
Here's a quick look into the three former Fannie Mae executives who
brought down Wall Street.
... Franklin Raines - was a Chairman and Chief Executive Officer at Fannie
Mae. Raines was forced to retire from his position with Fannie Mae when
auditing discovered severe irregularities Raines left with a "golden parachute valued at $240 Million
in benefits.
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. Raines and
Howard resigned under pressure in late 2004. Howard's Golden Parachutewas estimated at $20 Million!
Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. 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.
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WHERE ARE THEY NOW?
FRANKLIN RAINES?
Raines works for the Obama Campaign as his Chief Economic Advisor.
TIM HOWARD?
Howard is a Chief Economic Advisor to Obama under Franklin Raines.
JIM JOHNSON?
Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.