The Three Rat-A-Teers

The Three Rat-a-teers.

Raines, Howard & Johnson

by L. J. Martin

It’s interesting to note that three of the prime players in the destruction of our economy, Franklin Raines, Tim Howard, and Jim Johnson are sitting pretty (and not in a jail cell), thanks to their benefactor, Barack Hussein Obama.

Raines, the most well known of the three was the Chairman and CEO at Fannie Mae, forced to retire (with a 90 mil golden parachute), when auditing found “irregularities” in Fannie’s accounting practices.  Read here “blatant fraud.”  Just after his retirement: “Oops, we’re 9 billion upside down.”  Most of his “bonues” resulted from those phony profits.  Raines should have gone to jail, instead he was fined 50 million, a drop in the bucket considering what he stole from the American people.  That’s Obama “justice” for you, if you’re an Obama supporter. Last I heard Raines was living in his 6 million dollar pad popping bon bons. What the hell, it’s just taxpayer money.

Tim Howard, Chief Financial Officer of Fannie Mae, obviously the creator of those “irregularities,” more commonly known as cooking the books.  Tim resigned under “pressure” when Raines left.  Tim would have resigned under indictment had he not been an ardent supporter of Barack Hussein Obama.  This from the website CEO: Howard, whose resignation is officially viewed as a retirement, stands to walk away with an annual pension of more than $400,000, plus lifetime access to Fannie Mae’s medical benefits. He is also owed more than $4 million in stock options. Likewise, Raines, who also retired in December, is due more than $1 million annually for life. The Office of Federal Housing Enterprise Oversight has asked Fannie Mae to delay paying out any benefits until it reviews the lucrative packages.

But what the hell, it’s just taxpayer money.

James “Jim” Johnson was an exec at Lehman Brothers, later CEO of Fannie Mae, later “forced” from that position. From National Review Online: 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. While Johnson was an advisor to Obama’s election he received low rate loans from Countrywide, while Countrywide was making large political contributions. What the hell, it’s just taxpayer money.

Had I had my way all of them would have jumped from about 20,000 feet with no parachute, golden or otherwise.

But, as it is in D.C. under the Obama administration, they got their just desserts.  Raines?  Fat and sassy with an eight figure bank account provided by you and I.  Howard? A lousy 400 thousand a year plus benefits paid by the taxpayers.  Johnson? Can’t find a thing about him, but I’m pretty sure he’s not in a federal penitentiary as a roommate with the other two.  I’m sure he’s sipping pina coladas somewhere with a fat bank account full of taxpayer money.  It seems to be the Obama legacy.

L. J. Martin is the author of 30 books and has dozens of articles in national publications.  He lives in Montana with his wife, an NYT bestselling internationally published author.  He writes a conservative blog  For more see


One Response to “The Three Rat-A-Teers”

  • Linda Graycar:

    I am so distraught over the lack of action by our justice department. How can there be actual proof of the books being “cooked” for personal gain and nothing be done about it. These men were in positions of public trust and benefited themselves at taxpayer expense. That fact should be enough for us to be off the hook for their legal defence. Why are we still paying with no limit. The act is criminal. Pls tell me what I can do to stir this pot so it gets more attention. I will volunteer my time and effort to a just end. Thank you. Linda

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