Title: Franklin Gaines For Vice President
GSC Admin - June 30, 2004 08:54 PM (GMT)
http://www.fanniemae.com/aboutfm/executive...ae&s=Executives
Franklin D. Raines is Chairman and Chief Executive Officer of Fannie Mae, a New York Stock Exchange company and the largest non-bank financial services company in the world. Fannie Mae is the nation's largest source of financing for home mortgages. The Fannie Mae Board of Directors designated Raines as the successor to James A. Johnson in April 1998. He became Chairman and Chief Executive Officer on January 1, 1999.
Raines describes Fannie Mae as being in the American Dream Business. Under his leadership Fannie Mae has continued its record of double-digit operating income growth to sixteen years, expanded its product and technology leadership, and committed to invest $2 trillion to finance affordable homeownership and rental housing for 18 million families. Fannie Mae has been widely recognized for its financial management, employee diversity and benefits, and community service. Raines also serves as Chairman of the Fannie Mae Foundation, the largest foundation focused on housing and community development.
Raines stepped down as Director of the Office of Management and Budget (OMB) and a member of the President's Cabinet on May 20, 1998, after two years of service. Raines was the President's key negotiator in the talks that led to passage of the bipartisan Balanced Budget Act of 1997. Raines was the first OMB director in a generation to balance the federal budget.
From 1991 to 1996, Raines was Vice Chairman of Fannie Mae, in charge of the company's legal, credit policy, finance, and other corporate functions.
Prior to joining Fannie Mae, Raines was with Lazard Freres & Company for 11 years where he was a general partner. Before joining Lazard Freres, he served from 1977 to 1979 as Associate Director for Economics and Government in the Office of Management and Budget and Assistant Director of the White House Domestic Policy Staff.
Raines serves as a member of the board of directors of Fannie Mae, Pfizer Inc., PepsiCo, Inc., and is an Overseer for TIAA-CREF. He also serves on the boards of The Enterprise Foundation and the National Urban League. He formerly served as Chairman of the Visiting Committee of the Harvard Kennedy School of Government and President of the Board of Overseers of Harvard University.
Raines was elected a Fellow of the American Academy of Arts and Sciences, and is a member of The Business Council, The Business Roundtable, the Trilateral Commission, the National Academy of Social Insurance, and the Council on Foreign Relations.
Raines graduated magna cum laude with a B.A. degree from Harvard College. He received his J.D. degree cum laude from Harvard Law School. He also attended Magdalen College, Oxford University as a Rhodes Scholar.
The chairman and CEO of mortgage lender Fannie Mae, Raines served two years in the Clinton administration as director of the office of management and budget. A Rhodes scholar and former economic adviser in the Carter administration, he was mentioned as a possible running mate to Al Gore in 2000. Having Raines, who is black, on the ticket could help bring in minority votes for Kerry, but he is relatively unknown outside Washington.
Franklin D. Raines is Chairman and Chief Executive Officer of Fannie Mae, a New York Stock Exchange company and the largest non-bank financial services company in the world. Fannie Mae is the nation's largest source of financing for home mortgages. The Fannie Mae Board of Directors designated Raines as the successor to James A. Johnson in April 1998. He became Chairman and Chief Executive Officer on January 1, 1999.
Raines describes Fannie Mae as being in the American Dream Business. Under his leadership Fannie Mae has continued its record of double-digit operating income growth to sixteen years, expanded its product and technology leadership, and committed to invest $2 trillion to finance affordable homeownership and rental housing for 18 million families. Fannie Mae has been widely recognized for its financial management, employee diversity and benefits, and community service. Raines also serves as Chairman of the Fannie Mae Foundation, the largest foundation focused on housing and community development.
Raines stepped down as Director of the Office of Management and Budget (OMB) and a member of the President's Cabinet on May 20, 1998, after two years of service. Raines was the President's key negotiator in the talks that led to passage of the bipartisan Balanced Budget Act of 1997. Raines was the first OMB director in a generation to balance the federal budget.
From 1991 to 1996, Raines was Vice Chairman of Fannie Mae, in charge of the company's legal, credit policy, finance, and other corporate functions.
Prior to joining Fannie Mae, Raines was with Lazard Freres & Company for 11 years where he was a general partner. Before joining Lazard Freres, he served from 1977 to 1979 as Associate Director for Economics and Government in the Office of Management and Budget and Assistant Director of the White House Domestic Policy Staff.
Raines serves as a member of the board of directors of Fannie Mae, Pfizer Inc., PepsiCo, Inc., and is an Overseer for TIAA-CREF. He also serves on the boards of The Enterprise Foundation and the National Urban League. He formerly served as Chairman of the Visiting Committee of the Harvard Kennedy School of Government and President of the Board of Overseers of Harvard University.
Raines was elected a Fellow of the American Academy of Arts and Sciences, and is a member of The Business Council, The Business Roundtable, the Trilateral Commission, the National Academy of Social Insurance, and the Council on Foreign Relations.
Raines graduated magna cum laude with a B.A. degree from Harvard College. He received his J.D. degree cum laude from Harvard Law School. He also attended Magdalen College, Oxford University as a Rhodes Scholar.
The chairman and CEO of mortgage lender Fannie Mae, Raines served two years in the Clinton administration as director of the office of management and budget. A Rhodes scholar and former economic adviser in the Carter administration, he was mentioned as a possible running mate to Al Gore in 2000. Having Raines, who is black, on the ticket could help bring in minority votes for Kerry, but he is relatively unknown outside Washington.