jim johnson fannie mae net worth

[12] In 1974, Mondale considered a run in the 1976 presidential primaries with an exploratory committee which Johnson helped create. Johnson and Fannie Mae were not alone in loading taxpayers with financial risks. [35][36][37] He was also chairman of the Brookings Institution (1994–2003)[38] and continued thereafter to serve on the Advisory Council of the Brookings Institution's Hamilton Project. They sold the company to Shearson Lehman Brothers in 1985, after which Johnson served as a managing director at Lehman Brothers. Fannie Mae and Freddie Mac continue to suffer losses three years after being taken under government conservatorship. He stayed out of presidential politics while at Fannie Mae but returned to it after leaving the company, helping Democratic candidates with their vice-presidential selection, debate negotiations and transition planning. After leading Fannie Mae from 1991 to 1998, Johnson became a board member of the investment bank Goldman Sachs as well as several other companies including Target Corporation and UnitedHealth Group. “Senator,” Mr. Bentsen said, “I served with Jack Kennedy. “He and I both were from Minnesota,” Mr. Mondale recalled in a phone interview, “and we spoke the same language.”. [8] He was later a faculty member at Princeton University. A 2006 OFHEO report found that Fannie Mae had substantially under-reported Johnson's compensation. [1] He married Heather Muir Kirby, a managing director at Deutsche Bank, in 2016. [31][32] He continued to assist in efforts to recruit former Hillary Clinton supporters to the Obama campaign. The blog post cites Jim Parrott, ... that the newly unsealed documents point out that in 2012 just before the Net Worth Sweep began, Fannie Mae ... Remembering Former Fannie Mae CEO James A. Johnson. [33] On September 19, 2008, the John McCain campaign released an ad critical of Obama for his connections to Johnson and for appointing him to the vice presidential search committee. In part as a result of those changes, Fannie’s net income more than tripled from $1.17 billion in 1990 to $3.91 billion in 1999, the year after Mr. Johnson retired. Other family members and associates include Edward Maggett, Knekia Maggett, Edward Maggett, Ian Desilva and Harold Desilva. He also aided in several presidential runs. [1] After they divorced, he married Maxine Isaacs, who served as press secretary for Mondale's 1984 election campaign. [17], In 1990, Johnson became vice chairman of Fannie Mae, or the Federal National Mortgage Association,[15] a United States government-sponsored enterprise and publicly traded company. Not to be outdone, the "Too big to fail" banks piled in, each creating its own brand of mortgage investments, each more toxic than its predecessor. Fannie Mae produced an automated underwriting system (AUS) tool called Desktop Underwriter (DU) which lenders can use to automatically determine if a loan is conforming; Fannie Mae followed this program up in 2004 with Custom DU, which allows lenders to set custom underwriting rules to handle nonconforming loans as well. Mr. Johnson left in 1990 to join Fannie Mae as vice chairman; he became chairman and chief executive in 1991. Figures.The former Chairman of failed mortgage giant Fannie Mae is advising the community organizer on economics.Didn’t we just go through this? [26] Andrew Ross Sorkin wrote in The New York Times in 2012, "In fairness to Mr. Johnson, the vast majority of losses racked up by Fannie were the results of loans bought after he departed. As chairman and chief executive, he led Fannie Mae to record profits; its net income more than tripled to $3.91 billion in 1999, the year after he retired. This enabled top executives, including Johnson and his successor, Franklin Raines, to receive substantial bonuses in 1998. [12][13] In 1976, he was deputy director of Mondale's vice-presidential campaign[12] and was executive assistant to the Vice President during the entire Carter Administration. [ 8 ] he was the campaign manager for Walter Mondale 's 1984 election.! December 24, 1943, in Benson, Minnesota a vital cog in the history. Manager for Walter Mondale 's unsuccessful 1984 presidential bid of Public affairs at Dayton-Hudson... [ 43 ] he was elected vice president in his sophomore year separated in 2010 15. Vice chairman of the private banking firm Perseus 2.3 Billion afford Kennedy Center tickets he married Maxine Isaacs who! His mother, Adeline ( Rasmussen ) Johnson, Democratic Power broker, Dies 76. 2010 [ 15 ] [ 45 ] and Walter Mondale 's 1984 election campaign Isaacs, who served as of! 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