Pal #6

Barack's Pal of the day: Franklin Raines

Fannie Mae recently collapsed. Raines was the head of it while it was going under but resigned four years ago under the shadow of a $6.3 billion accounting scandal. He made millions. He was almost criminally charged for Fannie Mae fraud in April of this year but cut a deal, giving up $24 million in future payouts to avoid prosecution. He served as Obama's chief advisor on mortgage and housing policy, even after the truth of his misdeeds came to light. Hmmm.