Why didn’t Fannie Mae’s ex CEO , tell Obama Fannie was about to go under,when Obama hired him ?

Ex Fannie Mae CEO James A. Johnson was hired by Obama, for his VP search.

he was also Walter Mondale’s Campaign Chairmen in 1984

And the CEO of Lehman Brothers

Best Answer – Chosen by Asker

He did, and Obama has attempted to use that information to his advantage. The current CEO’s of Fannie and Freddie prepped Obama and would not talk to McCain about what was the upcoming announcement of their failure.

Obama’s top economic advisors have ties to Fannie Mae, Freddie Mac, AND Lehman Brothers — all asked for help from the Feds this weekend. They also have ties to Countrywide, who was in the news this past spring for the same reason!

Jim Johnson, who is currently Barack Obama’s economic advisor, was not only CEO and Vice Chairman of Fannie Me, he was also a managing director at Lehman Brothers.

On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson “to lead the process” for selecting Obama’s running mate. However, Johnson soon became a source of controversy when it was reported that he had received below market rates loans directly from Angelo Mozilo, the CEO of Countrywide . Property records show Mr. Johnson has received more than $7 million in loans from Countrywide since 1998, the first coming in the waning days of his Fannie Mae tenure. [ http://online.wsj.com/article/SB12127997… ]

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