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Representative Richard H. Baker


Self Description

March 2004: Republican member of the House of Representatives from Louisiana.

http://www.washingtonpost.com/wp-dyn/articles/A34526-2004Mar29.html

Third-Party Descriptions

January 2005: And Rep. Richard H. Baker (R-La.), chairman of the House Financial Services subcommittee on capital markets, demanded that ousted Fannie Mae chief executive Franklin D. Raines and other current and former executives at the troubled housing lender return millions of dollars in bonuses they received since 2001. Officials at Fannie's regulator, the Office of Federal Housing Enterprise Oversight, say that if they determine it is warranted, they have the means to force Raines and others to give up the money.

http://www.washingtonpost.com/wp-dyn/articles/A22701-2005Jan19.html

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Articles and Resources

Date Fairness.com Resource Read it at:
Jun 15, 2006 Perjury Probe Sought For Ex-Fannie Officials

QUOTE: A key House member has asked federal prosecutors to investigate whether former Fannie Mae chairman and chief executive Franklin D. Raines and former chief financial officer J. Timothy Howard lied to Congress two years ago about the company's accounting practices.

 Washington Post
Oct 20, 2005 Proposal on Affordable Housing Under Fire

QUOTE: ... the bill's sponsors agreed to add a provision that would ban funds from going to groups that in the past year had engaged in voter-registration or get-out-the-vote efforts or that affiliated with groups that did.

 Washington Post
Feb 08, 2005 Senate Panel to Begin Hearing on Bond Raters

QUOTE: The heads of the big three credit-rating companies and their critics will face off today in a Senate Banking Committee hearing, setting the stage for a regulatory battle over an industry that has eluded controls despite mounting concerns about conflicts of interest, aggressive business practices and a lack of competition and transparency.

 Washington Post
Jan 20, 2005 "Directors Run Risk of Paying Penalties Out of Their Pockets"

QUOTE: Although there have been isolated incidents in the past of directors and executives being held personally responsible financially or volunteering to forgo payments, in recent weeks the emphasis on paybacks has picked up momentum.

 Washington Post
Oct 06, 2004 Both Sides Critical At Fannie Hearing: CEO Denounces Regulator's Report, Methods

QUOTE: Fannie Mae's prime regulator said today that the giant mortgage company deliberately flouted accounting rules to project an image of smooth and relatively low-risk-earnings growth.

 Washington Post
Sep 25, 2004 Regulator Says Fannie Resisted

QUOTE: ...Fannie Mae said it was cooperating fully with a federal examination of its accounting, its regulator says... the agency had to subpoena documents and witnesses and ask the Justice Department for help enforcing subpoenas.

 Washington Post
Jun 25, 2004 Board Finds Problems in Audit Firms: Accountability Issues Remain at Big Four

QUOTE: ...significant problems at the nation's four biggest audit firms continue as they struggle "to regain credibility after confidence-rattling financial scandals over the past three years".

 Washington Post
Mar 30, 2004 House Opposition To Expensing of Options Increases

QUOTE: ...a House bill that would block a new rule by the Financial Accounting Standards Board to count options as an expense has picked up key support from the Republican and Democratic leadership.

 Washington Post