Franklin Raines the former CEO of mortgage giant Fannie Mae says he lost money in the aftermath of the financial meltdown.

From the Washington Post

In an interview, Raines says he is sorry about the harm done by accounting errors while he was chief executive, but he continues to reject the view of federal regulators that Fannie manipulated earnings to boost profits and bonuses. The restatement reduced earnings by $6.3 billion and cost shareholders more than a billion dollars to fix. Nevertheless, he says he was held accountable for the scandal. He resigned. And, he says, of the $90 million the government says he was awarded in compensation, he has lost $36 million in stock options that either have no value because Fannie’s stock price has collapsed or he forfeited as part of an agreement with the government.

So does this mean that he kept $54 million?  Plus he receives a pension of $1.2 million per year so it doesn’t appear that he is suffering from anything but greed.

 

 

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