Powell Gammill
IPFS Letters to the Editor • Economy - Economics USA
Why didn't they go to prison?
• Letter • Article"As the number of these loans grew and the risks of default
increased, in 2005 there were further congressional investigations into the
actives and accounting methods at Fannie Mae. After it was discovered that Franklin Delano
Rains himself and his top associates were behind cooking the accounting books
of Fannie Mae in order to receive “bonuses” for successfully operating Fannie
Mae, Raines, who by this time had been the CEO of Fannie Mae for six years,
“retired”. During this six years, Raines
padded his pockets to the tune of almost $100 million, while his Fannie Mae
associates Jamie Gorelick pocketed $75 million."
Why didn\'t these men go to prison and their bonuses given back?
Why are people in gov\'t above the law?
2 Comments in Response to Why didn't they go to prison?
Very simple. They did exactly what the government asked them to do and were paid the agreed 30 pieces of silver (plus inflation) to do so. The main villains here are the government and the central banks. Let us not get distracted looking for scapegoats.
Because they are IN the government. The people in the government make the laws, so the people in the government can ignore the laws, or change the laws when it is more convenient or necessary for them. That's how our criminal society is set up.