Franklin Raines
Franklin Raines
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Full Name and Common Aliases
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Franklin D. Raines is the most commonly known alias of this individual.
Birth and Death Dates
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Born on January 14, 1949
Still alive as of writing this bio in [current year]
Nationality and Profession(s)
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Nationality: American
Profession: Economist, Business Executive, Politician
Early Life and Background
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Franklin Raines was born on January 14, 1949. His early life is less documented compared to his professional accomplishments.
Raines earned a Bachelor's degree in Economics from Ohio University in 1971. He then proceeded to earn his Master's degree in Economics from the University of Pennsylvania in 1973 and later Ph.D. in Economics from Tufts University in 1980.
Major Accomplishments
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Raines served as the CEO of Fannie Mae from 1999 until 2004, when he resigned amidst controversy related to accounting irregularities.
Prior to his tenure at Fannie Mae, Raines worked as the Budget Director for President Bill Clinton and was a key figure in shaping the administration's economic policy.
* Raines has also been involved in various other business ventures and organizations.
Notable Works or Actions
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As CEO of Fannie Mae, Raines oversaw significant growth and expansion for the company. However, his tenure also saw controversy surrounding accounting practices and executive compensation. These issues led to his resignation in 2004.
Impact and Legacy
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Raines' impact on American economic policy is multifaceted. As Budget Director for President Clinton, he played a crucial role in shaping the administration's economic agenda.
However, controversies surrounding Fannie Mae during his tenure as CEO have tarnished his reputation. His legacy is complex, reflecting both significant contributions to public service and controversy within the private sector.
Why They Are Widely Quoted or Remembered
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Franklin Raines is widely quoted or remembered for his involvement in shaping American economic policy and his high-profile tenure as CEO of Fannie Mae.
Quotes by Franklin Raines
Franklin Raines's insights on:
It will be about 20 percent. Down substantially from the level that the president inherited when he came to office. The government is shrinking, as a percentage of our economy, not growing.
It will be the second-best year in housing history, and we believe it will be a very strong year for Fannie Mae,
It's going to be a very targeted tax cut program that I think is going to make a meaningful difference for American families,
Although to my knowledge the company has always made good faith efforts to get its accounting right, the SEC has determined that mistakes were made. By my early retirement, I have held myself accountable.
We believe our overall fiscal policy is providing an environment where businesses can prosper, but we believe tax cuts should be aimed at people.
We are working on a wide variety of ways to bring to the mortgage finance system cost savings for consumers as well as lenders in the mortgage market,
We are in favor of having the most accurate measure of inflation possible, in order to index those various programs, and we are trying to measure what the real cost-of-living changes are,
Well, it's been great for new home purchasers, particularly first-time purchasers. I think this is a good time to be thinking about buying a home.