The disgraced former Fannie Mae CEO resigned in 2004 amid a SEC investigation into the company's accounting practices. Raines inflated earnings, costing the company about $9 billion. Despite his actions, he walked away making close to $90 million in pay and stock during his five years at the company. A year after his resignation, a U.S. patent was approved for a 'System and method for residential emissions trading.' Both Raines and Fannie Mae were named on the patent. Raines currently sits on the board of trustees of Enterprise Community Partners. He formerly served as the director of the Office of Management and Budget from 1996-1998 during the Clinton administration
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