Created: 10/9/2008 10:26:55 AM 
A writer for USA Today, WFMY's corporate partner, posted a blog siting sources that indicate the five year CEO just bought a penthouse condo. Read the blog below:
"Millions of Americans are caught up in the nation's housing crisis.
Franklin Raines, the Democratic insider who ran Fannie Mae between 1999 and 2004, isn't one of them.
Washingtonian says Raines just paid $4.9 million for "a three-bedroom, seven-bath penthouse condominium" in Washington's Ritz-Carlton Residences.
The Washington Post says Raines and his wife are splitting up and agreed to sell their old house for $7.6 million.
Fannie Mae, a mortgage finance company that is now controlled by the government, had to restate billions in earnings because of accounting problems during his tenure. "Regulators have said that of the $90 million paid to Mr. Raines from 1998 to 2003 at least $52 million ? more than half ? was tied to bonus targets that were reached by manipulating accounting," The New York Times reported two years ago."
http://blogs.usatoday.com/ondeadline/2008/10/ex-fannie-mae-c.html
USAToday.com
