Frank Raines (Fannie Mae ex-chief) to pay nearly $40M in fines to the feds

[Stinky The Clown]

Actually, $25Mil in fines ("settlement") and $15Mil in forfeited stock options.

Poor Frankie.

Poor, poor, Frankie.

Poor, poor, POOOOOOOR Frankie.

Of course, this is way less than the $200Mil the feds wanted.

What will **become** of POOR FRANKIE?

I bet he doesn't have to face the Hemlock/Cat Food choice.

http://www.marketwatch.com/news/story/former-top-fannie-mae-executives/story.aspx?guid=%7B900FCB96-6F29-450C-9A12-C7173503F874%7D&dist=msr_21

[soothsayer]

1. Read the article more closely. He's paying nothing out of pocket.

Fannie Mae is paying some with insurance, and his options were underwater (valueless) anyway, so he's basically getting off Scott free.

[mac2]

2. Robbery right in front of our eyes.

We the people are the rightful masters of both Congress and the Courts ~ not to overthrow the Constitution, but to overthrow the men who pervert the Constitution: Abraham Lincoln

[notesdev]

3. Why did they get ANY bonuses?

This is a corporation that makes a profit only because of its unique legal privileges - it would be almost impossible for it not to make a profit. Being the beneficiary of this situation it is totally inappropriate for the executives to be pulling in bonuses at all, never mind these outrageous numbers.

He's getting away with most of his ill-gotten booty - this isn't even a slap on the wrist, this is a go-ahead for the next corrupt executive who does the same thing. All of these guys should have gotten the Enron treatment.

[aquart]

4. What a good question.