1. | Dec 21, 2013

It is funny that a blog about one subject turns into a blog about anohetr but what the heck let me defend Ted. This is probably too long ago to investigate but the fact is that while Mayor of Rockaway Township and more importantly a sitting on the Planning Board Mr. Inglesino received two payments of $10,000 each as contributions from a developer. One came a week before that developer received approval for a major development and one a few weeks after. These are plainly listed in the campaign financing reports at the time. I was running against Mr Inglesino at the time and was given those reports by a prominate Republican. I brought those reports to the Daily Record when they were timely and they decided to do nothing about it but the fact is that what ever motivation Ted may have, he is right.

2. | Dec 2, 2012

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3. | Nov 29, 2012

Raines' retirement was effitceve December 21, 2004, he is seeking to have it effitceve as of June 22, 2005, and thereby receive $600,000 more in pay. Mr. Raines followed a well-worn path in the United States during the later half of the 20th century. His humble beginnings were in Seattle. He won a scholarship to Harvard and was a Rhodes Scholar at Oxford. He worked on Wall Street for over a decade in the prestigious firm Lazard Freres. He was a member of President Clinton’s cabinet and director of his Office of Management and Budget. In 1999, Clinton selected him for the position of Fannie Mae CEO. Following revelations of the financial scandal, Mr. Raines took early retirement from Fannie Mae so that he could collect a compensation package including $1 million per year for life and $11 million in vested stock. In 2003 Mr. Raines was paid $20 million in salary and bonus (payments that are being investigated for government fraud). Fannie Mae is facing criminal investigations by the Justice Department, operational investigations by the SEC, and various Congressional investigations. There are questions regarding earnings statements being incorrectly inflated. In 2003, if derivative and other losses had been included, no bonuses would have been paid to top executives. However, deferral of the losses allowed declared earnings to reach a level which triggered maximum executive bonuses. It is a far stretch to imagine that Franklin Raines actually was capable of satisfying the requirements of the positions he held from Harvard to Director of the White House Office of Management and Budget. If he had been competent enough to hold those positions, how could he have been Fannie Mae's CEO for 5 years and allowed, not known about, or not understood that $9,000,000,000 was being mishandled.

4. | May 15, 2012

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