Jamie S. Gorelick

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Jamie S. Gorelick is a Commissioner on the National Commission on Terrorist Attacks Upon the United States, otherwise known as the 9-11 Commission. Former director of America's Promise.

Gorelick is "a partner at Wilmer, Cutler & Pickering. Prior to joining Wilmer, Cutler & Pickering in July 2003, Gorelick was vice chair of Fannie Mae. As part of the four-person Office of the Chairman, she shared responsibility for overall management of the company, directed its efforts to reach underserved markets and oversaw Fannie Mae's external relationships, legal and regulatory affairs.

"Prior to joining Fannie Mae in May 1997, Gorelick was deputy attorney general of the United States, a position she assumed in March 1994. From May 1993 until she joined the Justice Department, Gorelick served as general counsel of the Department of Defense. From 1979 to 1980 she was assistant to the secretary and counselor to the deputy secretary of energy.

"In the private sector, from 1975 to 1979 and again from 1980 to 1993, Gorelick was a litigator in Washington, D.C., representing major U.S. companies on a broad range of legal and business matters. She served as president of the District of Columbia Bar from 1992 to 1993. Gorelick is a graduate of Harvard College and Harvard Law School. She also serves on several boards, including the Fannie Mae Foundation, United Technologies Corporation, Schlumberger, Limited, The John D. and Catherine T. MacArthur Foundation, the Harvard College Board of Overseers, America's Promise, the Washington Legal Clinic for the Homeless, the Carnegie Endowment for International Peace, the Local Initiatives Support Corporation, and The National Park Foundation. She is also a member of the Council on Foreign Relations and the American Law Institute.

"Gorelick co-chaired, with Senator Sam Nunn, the Advisory Committee of the President's Commission on Critical Infrastructure Protection, and currently serves on the Central Intelligence Agency's National Security Advisory Panel as well as the President's Review of Intelligence."

Fannie Mae

Gorelick served as vice chairman and member of the board of directors of Fannie Mae from 1997 to 2003 (http://en.wikipedia.org/wiki/Jamie_Gorelick#Federal_National_Mortgage_Association).

In this CSPAN video (http://www.youtube.com/v/_MGT_cSi7Rs&hl=en&fs=1) you can see, she reportedly made $779,000 in bonus' on a $567,000 salary by ignoring the OFHEO (Office of the Federal Housing Enterprise Oversite) rules. Owing to those Fannie Mae policies' pumping government-guaranteed loans (GSE's) into the market, and having 3% or less in capital reserves, when the loans defaulted, there were no Fannie Mae funds to guarantee the loans. Investors removed their investments from GSE related investment vehicles, creating investor-panic and resulting in a world-wide economic collapse in 2008.[citation needed]

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References

  1. Trustees, Urban Institute, accessed August 29, 2008.

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