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Article: NLPC Welcomes Raines' Firing; Files Shareholder Proposal to End Fannie Mae Support of Jesse Jackson
- Article from:
- U.S. Newswire
- Article date:
- December 22, 2004
CopyrightCopyright 2004 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, Dec. 22 /U.S. Newswire/ -- Peter Flaherty, president
of the National Legal and Policy Center (NLPC), today applauded the
exit of Fannie Mae Chairman and CEO Franklin D. Raines. Flaherty
said, "Raines' departure is overdue. Accounting tricks are not
substitutes for sound management. Fannie Mae needs someone at the
helm who, first and foremost, can restore the credibility of the
company."
Flaherty also announced that NLPC will today file a shareholder
proposal to end Fannie Mae's support of Jesse Jackson through the
Fannie Mae Foundation. Flaherty said, "Raines made the mistake of
politicizing Fannie Mae. Bankrolling Jesse Jackson does little to
advance Fannie Mae's fortunes on ...