Good. Finally. This is a tough, accurate piece:

Ed Morrissey:

Team McCain knows that this will be a big problem for voters looking for a change in Washington.  Raines, and Obama’s other Fannie Mae advisor Jim Johnson, are exactly the kind of CEOs and big shots that Obama usually demonizes on the campaign trail.  They took exorbitant salaries and ran Fannie into the ground.

Here are a few articles of interest about Raines from the Washington Post::

March 2005: Perverse executive pay forced Raines out of his job.

May 2006: Extensive fraud at Fannie Mae under Raines’ direction, generating over $50 million in bonuses for nonexistent growth.

April 2008: Raines gives up $24 million in future payouts to avoid criminal charges in Fannie Mae fraud, although most of that was in worthless options; he pays $2 million in cash.

Note that Raines continued to advise Obama even after that settlement.  It’s not as though Obama didn’t know Raines’ past.  Apparently, he just didn’t care.

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McCain also comes off his heels with tis tough speech yesterday....

John McCain shifted gears in Iowa today and reminded voters in Cedar Rapids that he predicted the outcome of the credit crisis two years ago, and few bothered to act.  McCain also aggressively painted Barack Obama as a prime example of do-nothing politicians co-opted by lobbyist money.  His speech pointed out the amount of money Obama has received from Fannie/Freddie donors and the advisers he uses that helped create the crisis...