Was That Too Forward?: Where Forwards Go To Die

[FreddyKnuckles]

        Here is a quick look into 3 former Fannie Mae executives who have 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 irregulaties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, ' Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that 'mistakes were made' and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years.' Fannie Mae had to reduce its surplus by $9 billion.

        Raines left with a 'golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/ .

        The Government noted, 'The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglecting accounting systems and internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner.' These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.

        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. In everyday English - he was cooking the books. The Government Investigation determined that, 'Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,'

        On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.

        Howard's Golden Parachute was estimated at $20 Million!

        Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.' 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.

        WHERE ARE THEY NOW?

        FRANKLIN RAINES? Raines works for the Obama Campaign as Chief Economic Advisor

        TIM HOWARD? Howard is also a Chief Economic Advisor to Obama

        JIM JOHNSON? Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee

        IF OBAMA PLANS ON CLEANING UP THE MESS - HIS ADVISORS HAVE THE EXPERTISE - THEY MADE THE MESS IN THE FIRST PLACE. Would you trust the men who tore Wall Street down to build it back up again?







------------------------------------------------------------------------------------------------- #2

 Do you remember 1987.......

             

   

 
                 
 




Thought you  might be interested in this forgotten bit of
information.........

It  was 1987! At a lecture the other day they were playing an old news video of
Lt.Col. Oliver North testifying at the Iran-Contra hearings during the Reagan Administration.

There was Ollie in front of God and country getting the third degree, but what he said was stunning!

He was being drilled by a
senator; 'Did you not recently spend close to $60,000 for a home security
system?'

Ollie replied, 'Yes, I did, Sir.'

The senator
continued, trying to get a laugh out of the audience, 'Isn't that just a little
excessive?'

'No, sir,' continued Ollie.

'No? And why not?' the senator asked.

'Because the lives of my family and I were threatened, sir.'

'Threatened? By whom?' the senator questioned.

'By a terrorist, sir' Ollie answered.

'Terrorist? What terrorist could
possibly scare you that much?'

'His name is Osama bin Laden, sir' Ollie replied.

At this point the senator tried to repeat the name, but couldn't pronounce it, which most people back then probably couldn't. A couple of people laughed at the attempt. Then the senator continued. Why are you so afraid of this man?' the senator asked.

'Because, sir, he is the most evil person alive that I know of', Ollie answered.


'And what do you recommend we do about him?' asked the senator.

'Well, sir, if it was up to me, I would recommend that an assassin team be formed to eliminate him and his men from the face of the earth.'

The senator disagreed with this approach, and that was all that was shown of the clip.



By the way, that senator was Al Gore!

Also:
Terrorist pilot Mohammad Atta blew up a bus in Israel in 1986. The Israelis captured, tried and imprisoned him. As part of the Oslo agreement with the Palestinians in 1993, Israel had to agree to release so-called 'political prisoners.'

However, the Israelis would not release any with blood on their hands, The American President at the time, Bill Clinton, and his Secretary of State, Warren Christopher, 'insisted' that all prisoners be released.

Thus Mohammad Atta was freed and eventually thanked us by flying an airplane into Tower One of the World Trade Center .. This was reported
by many of the American TV networks at the time that the terrorists were first identified.
It  was censored in the US from all later reports.

If you agree that the American public should be made aware of this fact, pass this on.

Do Not Break - it is 6 years strong


This  is why I always say I love YOU....


This has not been broken since 9/11/01, please keep it going...
This has been kept alive and moving since 9/11. In memory of
all those who perished this morning; th e passengers and the pilots on the
United Air and AA flights, the workers in the World Trade Center and the
Pentagon, and all the innocent bys tanders. Our prayers go out to the friends and
families of the deceased.


Send
this to at least 10 people to show your support


PLEASE DON'T BREAK IT !!!!!!


__________________________________________________________________#3



___________________________________________________________________#4

http://www.youtube.com/watch?v=TG4fe9GlWS8
__________________________________________________________#5

Retirement Planning
>
> Here's how some compare...
>
> If you had purchased $1000.00 of AIG stock one year ago, it
> would now be
> worth $49.00.
>
> With Fannie Mac, you would have $16.50 left of the original
> $1000.
>
> With Freddie Mac, you would have less than $5.00 left.
>
> If you had purchased 1000.00 of WaMu stock you would have
> $49.00 left.
>
> If you had purchased Lehman Brothers, you would have
> nothing left.
>
> But, if you had purchased $1000.00 worth of beer one year
> ago, drank all
> the beer, then turned in the cans for recycling, you would
> have $114.
>
> Based on the above, the best current investment advice is
> to drink
> heavily and recycle.
>
> I call this my 401-Keg Plan.
>
> Happy Investing!!!!




Do you get shit like this constantly or is it just me?

[Andrew_TSKS]

Jim has talked about how his right wing family members send shit like this out to him all the time. I feel like Davy has too. Not me though.

[FreddyKnuckles]

my dad was overseas for three weeks.  That was a nice period of being without forwards.  Usually his are about big boobs.  during election season he sends the occasional right wing propaganda.   I think forwards will die with the 40+ generation.

[DCDave]

Can you delete this shit off my internet?

[dieblucasdie]

Hahaha he sent me the Fannie Mae one too.  I think by accident.  I was going to right a snarky reply but then I remembered I need money from him.

I just him out on one of them once, and now I don't really get them from him anymore, except for some of the dumb joke ones.

[FreddyKnuckles]

have you asked him for $$?   I told him to send you some. 

[dieblucasdie]

ha, not yet.  Going to when I call him tonight, though, so I figured I'd best not write a bitchy reply to his random forward. 

[Greg Nog]

Occasionally I'll get safety tips forwarded from my mom -- stuff like "This woman on the highway tried to help a man with a broken tires car but then she got ATTACKED by that man DON'T HELP PEOPLE WHO HAVE BAD PLANS FOR YOU"  Then I send back an e-mail gently reminding her that I don't have a car.

[FreddyKnuckles]

yeah you should try talking to our parents regularly, you know, so they leave me alon about how bad you are at communicating.  Dad sent me some sort of email while he was in england asking if you were ok/etc and that you'd email'd him that you were broke.  I told him not to give you too much money, or you'll just keep being a lazy bum until you're out of money again.  So I suggested that he send you a few hundred bones to help with the legal fees/cell phone.

[FreddyKnuckles]

Occasionally I'll get safety tips forwarded from my mom -- stuff like "This woman on the highway tried to help a man with a broken tires car but then she got ATTACKED by that man DON'T HELP PEOPLE WHO HAVE BAD PLANS FOR YOU"  Then I send back an e-mail gently reminding her that I don't have a car.

yeah every now and then I'll reply all to a forward with a link to snopes. 

[dieblucasdie]

yeah you should try talking to our parents regularly, you know, so they leave me alon about how bad you are at communicating.  Dad sent me some sort of email while he was in england asking if you were ok/etc and that you'd email'd him that you were broke.  I told him not to give you too much money, or you'll just keep being a lazy bum until you're out of money again.  So I suggested that he send you a few hundred bones to help with the legal fees/cell phone.

Yeah, dude, I email mom and dad a lot, they just freak out anytime I don't answer my phone for some reason. 

[dieblucasdie]

Also, I'm going to ask for more than just a couple hundred bones, but I just got a new job yesterday, and  I'll offer to pay him back.  Gah, I hate being broke.

[FreddyKnuckles]

Every time I call mom, she's like 'sigh, it would be nice if chris would just call me out of the blue'

Also, don't offer to pay him back.  Dad is all about the benjamins.  Don't talk about east coast grad schools either.  Lie and say something about Seattle U or WSU or something.  trust me.  Since I went to law school, let's see, dad has given me, mental math, mental math, rough $20,000.  Granted, my rent is quadruple your rent and I'm $100,000 in debt, but, you know.  I don't think you quite grasp the concept that pa is willing to subsidize your education from ths point forward.

[Ignatius]

You guys should clearly invite your parents to join the board.

[dieblucasdie]

Every time I call mom, she's like 'sigh, it would be nice if chris would just call me out of the blue'

Also, don't offer to pay him back.  Dad is all about the benjamins.  Don't talk about east coast grad schools either.  Lie and say something about Seattle U or WSU or something.  trust me.  Since I went to law school, let's see, dad has given me, mental math, mental math, rough $20,000.  Granted, my rent is quadruple your rent and I'm $100,000 in debt, but, you know.  I don't think you quite grasp the concept that pa is willing to subsidize your education from ths point forward.

Yeah, I'll just offer to pay him back, and like, 95% he'll say no.  When I lost my job he was all "If you need help just ask, etc etc" so I don't think it'll be a problem. 

[alexandra]

wtf. can I have your parents? I ask for money and my parents tell me get a night job and suck it up.

[dieblucasdie]

haha, well I've never really taken money from him before.  Back in tha day, his response would've been similar to your parents', but, uh, he's in the oil business, so the last five years or so have really good to him.  Now that he has more money than he can plausibly he's much more receptive, ha.

[FreddyKnuckles]

[dumbfish]

So true, Freddy, so true.

[theartlessmonster]

he actually doesn't make a bad looking woman

[FreddyKnuckles]

So true, Freddy, so true.

That was a forward I got today.

I also got one from my dad explaining sinusoidal, harmonic, and combined motion by big fake boobies shaking around.


Also, and incredibly, incredibly offensive one that need not be repeated here.

[theartlessmonster]

I got this forward last week...

http://www.youtube.com/watch?v=RWpU8sX10_4

[G.C.R]

I'm burningly curious to know what the one that's too offensive to tell us about is now.

[FreddyKnuckles]

I'm burningly curious to know what the one that's too offensive to tell us about is now.

I deleted it but the general jist was something about how people think that a "coon-ass" is dumb, but that building a city 10 feet below sea level and then filling it with democrats was "genius"

[coldforge]

As predictable as I am, this keeps making me think of this.