Nearly every president since the turn of the previous century has had people on their staff that had business experience. While some of the progressive democrats had as little as 30% of their staff with business experience it pales in comparison to how much business experience can be found within the Obama Administration. Warp your hands around this figure: 8%. That’s right people; only 8% of Obama advisors have any sort of private sector business experience.
And we expect these people to lead us out of our economic troubles?
To further point out just how inept Obama is when it comes to picking out people to provide him with economic advice take a look below
Franklin Raines was a Chairman of Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae’s accounting activities. Raines left with a “golden parachute” valued at $240 million in benefits. The government filed suit against Raines when the depth of the accounting scandal became clear.
Raines now works for President Obama as his Chief Economic Advisor.
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” a Fannie. Investigations by federal regulators and the company’s board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 004. Howard’s “golden parachute” was estimated at $20 million.
Howard is a Chief Economic Advisor to Obama under Franklin Raines.
Jim Johnson was a former executive a Lehman Brothers and who was later forced from his position as Fannie Mae CEO. 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 was in fact it was $21 million. Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson’s “golden parachute” was estimated at $28 million.
Johnson was hired as a senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee.
Rather than spend time in jail as these guys have done, they get great big “retirement” bonuses and then work for Obama. Kind of makes you wonder what it is about Obama that attracts him to guys like this and others like tax cheat Tim Gietner and domestic terrorist Bill Ayers. The level of corruption that runs through the Obama Administration might one day be compared to U. S. Grant’s.