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Leadership (Part 2)
Leadership (Part 2)
Former Fannie CEO Franklin Raines
Let's not forget Frank Raines, the Fannie chief who was forced out in 2004 amid an accounting scandal. The bookkeeping missteps led to a $400 million fine for Fannie Mae, but Raines - well-connected, imperious and tens of millions of dollars richer for his role - remains unrepentant. "This settlement is not an acknowledgement of wrongdoing on my part, because I did not break any laws or rules while leading Fannie Mae," he said in April following an SEC settlement that required him to pay just $2 million. "At most, this is an agreement to disagree."

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Last updated July 18 2008: 4:35 PM ET
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