Larry Klayman, a former Justice Department prosecutor and the founder of Judicial Watch and Freedom Watch argues in an editorial appearing in WND Commentary that short of violent revolution, there is only one strong legal mechanism that can be invoked to legally mete out justice. That is the so-called “citizens grand jury,” by which Americans themselves can enforce the law.
Klayman argues:
“With government corruption and treasonous acts running rampant and given the increasingly corrupt and treasonous actions of our public officials, which have nearly destroyed our republic, and the almost complete breakdown of the justice system as run by the government, the time has come for we Americans to rise up and use citizen-impanelled and administered grand juries to hold presidents and others at the highest levels of government accountable for the crimes that have driven our nation to the brink of extinction.”
In a change email I received related to the Klayman editorial, the question was posed:
‘Where are Jim, Tim, and Franklin now?
“Just in case you might have wondered how their ineptitude affected their lives after they ruined so many dreams and lives.
“Where are Jim, Tim and Franklin now?
“Here’s a quick look into the three former Fannie Mae executives who
brought 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 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.“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. 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 2004. Howard’s Golden Parachute
was estimated at $20 Million!“Jim Johnson –– A former executive at 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 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.“Where Are They Now?”
Franklin Raines?
The email claims that Raines works for the Obama Campaign as his Chief Economic Advisor. But the Washington Post reports that the Obama campaign issued a statement by Raines insisting, “I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters.” Obama spokesman Bill Burton went a little further, telling me [The Fact Checker Michael Dobbs] in an e-mail that the campaign had “neither sought nor received” advice from Raines “on any matter.” See ces.washingtonpost.com/fact-checker/2008/09/obamas_fannie_mae_connection.html
Tim Howard?
The email claims Howard is a Chief Economic Advisor to Obama under Franklin Raines. But FactCheck.org found “no evidence Tim Howard ever had a connection to the Obama campaign.” The e-mail’s claim about Howard is pure fantasy. FactCheck.org found no press reports or other evidence indicating that Howard has, or ever had, any relationship with the Obama campaign, let alone being “a Chief Economic adviser.” Normally, chief advisers to the campaigns do interviews with reporters and are widely quoted. When we asked the Obama campaign if Howard had ever been an adviser, spokesman Vietor said, “Timothy Howard is not a policy advisor and has not been one.” Howard served as the chief financial officer for Fannie Mae until 2004, when, along with Raines, he was dismissed from the company under speculation of mismanaging Fannie’s financial records.
According to FactCheck.org neither Franklin Raines or Tim Howard works for the Obama campaign, either now or in the past.
Jim Johnson?
The email claims that Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee. But according to FactCheck.org, the e-mail is technically accurate when it says Obama selected Jim Johnson to head his vice presidential search committee, but it fails to mention that Johnson lasted only a week in that unpaid position. Johnson, who was CEO of Fannie Mae from 1991 until 1998 (he left the company in 1999), was picked to join a selection committee (along with Caroline Kennedy and Eric Holder) to help choose Obama’s vice presidential running mate. However, Johnson resigned from the position just one week later amid allegations that he received special treatment in obtaining loans from Countrywide Financial Corp. The e-mail claims that he was “hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee.” It isn’t apparent if Johnson was selected to “run” the committee, and he clearly didn’t have much of a chance to do so. We found no reports of Johnson ever having been a “senior finance advisor” to the campaign, and Obama spokesman Tommy Vietor says he never was.
FactCheck.org says that it’s true that all three men were at one time top executives of the Federal National Mortgage Association, the huge company known as “Fannie Mae,” which was set up by Congress to supply money for home mortgages. But it’s a huge stretch to conclude, as this e-mail does, that these three men “brought down Wall Street.” The message is mostlyaccurate in its description of the roles Raines and Howard played in an accounting scandal from several years ago, though we weren’t able to verify the exact value of each man’s “golden parachute.” However, charges against Raines were dropped this year in exchange for his giving up $24.7 million in stocks, cash and other benefits. The settlement included a $2 million payment to the federal government to be covered by Fannie Mae’s insurance policy. Howard also agreed to a settlement valued at $6.4 million, including $5.2 million in stock options. The e-mail also notes that Johnson, who was CEO before Raines, was criticized for receiving $21 million in compensation a decade ago.
Well, so much for the false e-mail making the rounds on the Internet. Still, it is important for American citizens to be vigilant but with the facts.
http://www.wnd.com/2012/04/time-to-indict-the-political-class/
