Obama Pal Franklin Raines Buys $4.9 Million Penthouse

Barack Obama pretends to decry that CEO's of failed companies should not be getting golden parachutes. Well, his adviser Franklin Raines walked away with $90 million after running Fannie Mae into the ground.

And doesn't seem to be suffering for it.

Franklin Raines, the former top man at Fannie Mae, bought a three-bedroom, seven-bath penthouse condominium in the West End’s Ritz-Carlton Residences for $4.9 million. The condo has a rooftop terrace with a hot tub, a butler’s pantry, and three parking spaces. Raines, director of the US Office of Management and Budget under President Clinton, was CEO of Fannie Mae from 1999 to 2004.

And he didn't even need any help with the mortgage from Tony Rezko.

At the risk of being called racist, here's an ad from last month tying Obama to Raines.



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