1949 - Franklin Delano Raines was born on the 14th of January in Seattle, Washington.
Graduated from Harvard University, Harvard Law School; and Magdalen College, Oxford University as a Rhodes Scholar.
1977-1979 - Served as Associate Director for Economics and Government in the Office of Management and Budget and assistant director of the White House Domestic Policy Staff.
Joined Lazard Freres and Co., and became a general partner.
1991-1996 - Became Fannie's Mae's Vice Chairman.
1996-1998 - Director of the U.S. Office of Management and Budget.
1999 - Returned to Fannie Mae as CEO, one of just a few African American CEOs of Fortune 500 companies.
2006 - Fannie Mae announced it is suing Raines in order to recover some or all of the $50 million in payments made to Raines based on the overstated earnings.
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