Fannie Mae Execs as Obama Advisers ...

Posted: Jul 16, 2008 5:19 PM
Barack Obama would have probably preferred the WaPost not profile Franklin Raines.  It clearly shows that 1). he was forced out of Fannie May in an accounting scandal, and 2). He is currently giving Obama advice on mortgages.

Here's an excerpt:

"In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."
Interestingly, until he was thrown under the bus for the Countrywide mortgage scandal, Obama's lead "veep" vetter was Jim JohnsonJohnson was also CEO of Fannie Mae.

This, of course, makes you wonder about Obama's judgment regarding the economic advice he is receiving ...