For those of you who want to know the facts about things.

The Players:

In 2004 the SEC began an investigation into Fannie Mae which led to restating of previously reported profits to the tune of $6.3 trillion. What happened when the regulators stepped in? They overstated under this guy, Franklin Raines, they overstated their earnings by $6.3 billion.

Okay, let me give you the players. First one, Franklin Raines. Served as Clinton's director for the U.S. Management and Budget. He is now the CEO of Fannie Mae or I'm sorry, he was CEO until 2004. He served as the CEO from '99 to 2004. He took an early retirement while the SEC was investigating Fannie for accounting irregularities. Can you imagine if, while they were doing the investigation on Enron, if Ken Lay took an early retirement? Do you think anyone would have gotten up off of him?....

Then we have James Johnson, former CEO of Fannie Mae. You know, this guy, because he was selected by Obama to head the vice presidential search committee when the news broke that he may have received preferential loan rates for his personal loans through Countrywide. That's another scandal. By the way, Obama threw this guy under the bus. What you may not have known is Mr. Johnson was the former chief of staff to vice president Walter Mondale and during his tenure accounting results were manipulated so that executives could earn larger bonuses. The accounting manipulation of 98 resulted in the maximum payoffs and payouts to Fannie Mae's senior executives. He personally got $1.9 million....

How about this one, Jack Quinn, Esquire. Clinton appointee, he's a board member. He was the attorney working for the pardon for Mark Rich.....

How about Jamie Gorelick, from Janet Reno's Justice Department who served on 9/11 commission. Gorelick, Gorelick, Gorelick, oh, she's the one who built the wall between the CIA and the FBI so they couldn't communicate. Remember her from 9/11?....

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