Franklin Raines — SPARQNOW

At-a-Glance

Former Chairman and Chief Executive Officer of the Federal National Mortgage Association (Fannie Mae).
Served as White House budget director under President Bill Clinton from 1996 to 1998.
Worked for 11 years at Lazard Freres and Co., becoming a general partner.
Served in the Carter Administration as associate director for economics and government in the Office of Management and Budget.
Graduated from Harvard College, Harvard Law School, and Magdalen College, Oxford University, as a Rhodes Scholar.
Currently works as a venture capital investor.

Biography

Franklin Delano Raines is an American business executive and venture capital investor. He is widely known for his tenure as the former chairman and chief executive officer of the Federal National Mortgage Association (Fannie Mae). Prior to his leadership at Fannie Mae, Raines served as White House budget director under President Bill Clinton. His career at Fannie Mae, particularly his role leading the organization, later came under scrutiny regarding alleged accounting irregularities.