Worldnet DailyDisgraced Fannie Mae CEO set to cash in for millions Posted: June 18, 2010 1:00 am Eastern
By Jerome R. Corsi Â© 2010 WorldNetDaily
Former Clinton and Obama budget adviser Franklin Raines owns a key carbon-emissions patent he developed as CEO of the government-sponsored mortgage giant Fannie Mae, positioning him and his partners to make millions of dollars if it is used in any carbon-capping scheme implemented by the Obama administration.
Raines and his associates led Fannie Mae and Congress to believe Fannie Mae owned the patent, despite public records to the contrary, a WND investigation has found.
Raines and his partners carried out their plan by quietly filing for and receiving a second nearly identical carbon-emissions patent that superseded the first patent, according to government records. The second patent was never assigned to Fannie Mae or any other party.
As WND reported, an Enron-like accounting scandal enabled Raines to earn $90 million in his five years as Fannie Mae CEO, from 1999 to 2004.