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Rise and fall of Fannie Mae chairman and CEO Franklin Raines

WASHINGTON - If what goes up must come down, then maybe it was inevitable that Franklin D. Raines' rise through the worlds of business and politics would end.
Two top executives at Fannie Mae forced out

...which will likely force it to wipe out $9 billion in profits over the past four years. Fannie Mae chief executive Franklin Raines and J. Timothy Howard, the company's chief financial officer, stepped down Tuesday after lengthy negotiations...
Fannie Mae board meets to discuss possible shake-up

...a likely restatement of $9 billion or more in earnings. Pressure to resign has been building in recent weeks on Franklin Raines, chief executive of the government-sponsored company, and its chief financial officer, Timothy Howard. A review...
Finance chief is blamed in fraud of investigators led by former Sen. Warren Rudman, of New Hampshire, also found that former chairman and CEO Franklin Raines, although not sharing direct responsibility, contributed to a culture of arrogance at the government-sponsored...
Many settle for really bad terms to get a house for credit-impaired borrowers but at some of the highest rates in the market," said Fannie Mae Chairman Franklin Raines. "In many cases, consumers that can afford the least are paying the most to finance a home." The survey found...
Government fiddles while nation burns

...Chris Dodd, D-Ct. They have avoided any blame, of course, and are still in office! Others who bear guilt are Franklin Raines, Jim Johnson and Tim Howard. All are former CEOs or CFOs of Fannie Mae.The Democrats, the president and the national...
CBO moving toward $50 billion surplus projection

...boomers. Last month, CBO said Treasury data suggested a 1998 surplus of $18 billion. White House budget director Franklin Raines said last month that he expected the surplus to exceed that amount. Linda Ricci, Raines' spokeswoman, said Monday...
IRS: 2000 bug bungled tax installment agreements

...problem during a meeting at the White House, where the agency heads were warned to get on top of the problem quickly. Franklin Raines, director of the Office of Management and Budget, told the Cabinet secretaries they would be held "personally responsible...
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Rubin to head economic team for president's second term

...second-term team will have a noticeable lack of congressional negotiating experience. New White House budget director Franklin Raines insists his noninvolvement in last year's bitter budget battle will prove a plus not a minus, but others are skeptical...
The truth about the meltdown

...employed the services of former Fannie Mae fat cat Franklin Raines. Meanwhile, Barney Frank and other Democrats seem...D-Mo., called the hearing a "political lynching of Franklin Raines," who is black. "I get the feeling that the markets...