Guess who holds the patent for carbon trading plan
Can you guess? It is former Clinton budget adviser, and CEO of failed Fannie Mae, Franklin Raines. You may remember that Raines opted to "retire" from Fannie Mae (with a $19 million "golden parachute" severance package) when the investigation into Fannie Mae's accounting and other shady activities began. Raines and two other top Fannie Mae executives were charged in a civil lawsuit, filed in December 2006, accusing them of manipulating Fannie Mae earnings, allowing executives to pocket hundreds of millions in bonuses from 1998 to 2004. During those years, earnings were overstated by more than 9 billion dollars, and when corrected caused a 40 percent wipeout in Fannie Mae profits in the years 2001-2004. They settled cheap, by paying a paltry fine that amounted to little more than a slap on the wrist when compared to their bonus payouts and exorbitant salaries.
If and when the cap and trade carbon tax scheme is passed, Raines stands to gain untold millions as a co-holder of the patented plan. Read more about this by going here: Guess who holds patent for carbon-trading plan
Can you guess? It is former Clinton budget adviser, and CEO of failed Fannie Mae, Franklin Raines. You may remember that Raines opted to "retire" from Fannie Mae (with a $19 million "golden parachute" severance package) when the investigation into Fannie Mae's accounting and other shady activities began. Raines and two other top Fannie Mae executives were charged in a civil lawsuit, filed in December 2006, accusing them of manipulating Fannie Mae earnings, allowing executives to pocket hundreds of millions in bonuses from 1998 to 2004. During those years, earnings were overstated by more than 9 billion dollars, and when corrected caused a 40 percent wipeout in Fannie Mae profits in the years 2001-2004. They settled cheap, by paying a paltry fine that amounted to little more than a slap on the wrist when compared to their bonus payouts and exorbitant salaries.
If and when the cap and trade carbon tax scheme is passed, Raines stands to gain untold millions as a co-holder of the patented plan. Read more about this by going here: Guess who holds patent for carbon-trading plan
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