Remember Franklin Raines? UPDATED

He was former head of Fannie Mae who resigned under a cloud after being investigated by the Office of Federal Housing Enterprise Oversight. He is alleged to have raided Fannie Mae to the tune of $100MM and used questionable accounting methods to show higher than actual returns. What's he doing these days, you ask?

more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters.

That doesn't exactly fill me with confidence.

UPDATE (and bumped):

Apparently I'm a fool for trusting WaPo. This according to FactCheck. To wit: "So what evidence does the McCain campaign have for the supposed Obama-Raines connection? It is pretty flimsy, but it is not made up completely out of whole cloth. McCain spokesman Brian Rogers points to three items in the Washington Post in July and August. It turns out that the three items (including an editorial) all rely on the same single conversation, between Raines and a Washington Post business reporter, Anita Huslin, who wrote a profile of the discredited Fannie Mae boss that appeared on July 16."

Just so I have this straight: On three separate occasions the ever vaunted Washington Post published the fact that he is advising Obama based on first hand information which then went through the bulletproof vetting process by editors and lawyers and we cannot trust that. That is "flimsy". Good to know.


Leads Online said…
This does not suprise me at all that Obama has another close "friend" that is SO STINKING CORRUPT and bad for this country! Now Raines, it was Jim Johnson, Bill Ayers, Tony Rezko and the America hating Rev. Wright.

Americans need to wake up and see the Kool-aid the Barry Obama camp is pooring for them. Pure garbage.

Nobama....Keep the Change
Anonymous said…
As for the Lewis quote. It's true. Robber barrons are cool.

You should be proud to be among the dumb crackers, sitting on the deck of the Titanic, explaining the value of the iceburg.


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