Shot in the Fannie Mae!

Where are they now?

Here is a quick look into 3 former Fannie Mae executives who helped bring down Wall Street.

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregulaties in Fannie Mae's accounting activities.

The Government filed suit against Raines when the depth of the accounting scandal became clear. http://housingdoom.com/2006/12/18/fannie-charges/. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.

Tim Howard was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae."

Howard resigned under pressure in late 2004.

Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. 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."

Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.

WHERE ARE THEY NOW?

FRANKLIN RAINES?

Raines works for the Obama Campaign as Chief Economic Advisor

TIM HOWARD?

Howard is also a Chief Economic Advisor to Obama

JIM JOHNSON?

Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.

Obama claims he has the wherewithal to clean up the country's financial quagmire. One thing should be clear: his advisors have the expertise.

THEY MADE THE MESS IN THE FIRST PLACE!

Should we trust the men who tore Wall Street down to build the New Wall Street?

Obama promises change. How much more of the type of change he seems to promote can we as Americans afford?

Gas Prices - My Rant for the Day

Anyone notice besides me that gas is more than a dollar less than it was two months ago? Did you notice that it's still a dollar more than it was a year ago!!

Here's the kicker - oil prices are lower than they were a year ago!!

Look at this headline from Yahoo News:

Oil prices dive to one-year lows as stock markets slide

Fri Oct 10, 10:09 AM ET

LONDON (AFP) - Oil prices slumped Friday to one-year lows under 80 dollars per barrel, striking 75 dollars in London, amid a global equities meltdown that sparked fears over demand for energy, traders said.

Ten days ago, this headline appeared:

Business News

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Iran wants more than $100 a barrel for oil

TEHRAN, Oct. 5 (UPI) -- A price for a barrel of crude oil that is below $100 is unacceptable, Iranian Oil Minister Gholam Hossein Nozari says.

The Iranian oil minister also said there currently is an oversupply of oil in the market by about 400,000 barrels per day, Fars News Agency reported Sunday.

"An oil price of less than $100 is unsuitable for anyone, either for producers or for consumers," Nozari told reporters at a gas export conference in Tehran Saturday.

Is he insane?

Oh, wait. Yes, he is. That's been proven time and again... But apparently he's not alone in the world.

Another Bleak Day on Wall Street

It's not getting any better on Wall Street these days. There's still a panic run for the back exits as investors are selling, selling, selling. Few are buying, and there are tens of thousands of people looking for alternative ways to keep food on their tables and gas in the vehicles. (At least gas prices have lowered! Silver linings do exist...)

I listened in last night on a conference call with Ken Rolfsness, mastermind behind the Show ME The Money System and the increasingly famous Show ME The Money Bus Tour with Danny Glover and Jack Zufelt. He mentioned new ad campaigns and increased activity at the Tour stops, and was brimming with excitement about the prospects of the Show ME The Money System. It's an answer to the needs of those droves of people who are grasping for solutions to their sudden losses and the dissipation of their retirement funds.

It makes good economic sense to invest in yourself in these tenuous times. Call me at 858-518-6666 or visit www.maxearnings.net to see how you can beat the system with the Show ME The Money System.

The SMTM Shipping and Receiving Business

The Show ME The Money Bus Tour rolls forward. It's in Northern California during the month of October and the response is such that they're having to slow the pace to allow more to attend.

The Tour is introducing prospective entrepreneurs to a new twist on an old concept: Shipping and Receiving. The Show ME The Money system that my partners Danny Glover, Jack Zufelt and Ken Rolfsness are promoting is all about Shipping and Receiving: Friendshipping, fellowshipping, partnershipping, relationshipping, even apprenticeshipping... and then we start receiving a steady income with residuals. It's pretty simple, really.

If you don't want to wait until the Tour hits your city to find out more, contact me. We'll talk about doing some Shipping and Receiving together.