The Baltimore Sun Jay Hancock column: Raines claiming accountability isn't enough; he should show it.

Publication: Baltimore Sun (Baltimore, MD)

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COPYRIGHT 2006 The Baltimore Sun

Byline: Jay Hancock

Dec. 10--Frank Raines says he should be accountable for the billions in overstated earnings and shareholder losses at Fannie Mae when he was running the joint.

He just doesn't act like it.

Another executive would forthrightly apologize over the debacle at the mortgage-finance giant. Another executive would express shame at overseeing the bogus books even if, as Raines maintains, he had no knowledge they were fake.

Another executive would forgo much of an annual pension of $1.2 million. Another executive would disgorge tens of millions in pay that was tied to fictitious profits.

But Raines has shown no sign of doing any of those things. He...

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