Franklin Raines resigns as White House budget director to chair Fannie Mae

May 1998
Jet;05/04/98, Vol. 93 Issue 23, p46
Announces that the first Black to serve as director of the White House's Office of Management and Budget (OMB), Franklin D. Raines will resign to serve as chairman and chief executive officer of the Federal National Mortgage Association. Excerpt from his letter of resignation; Background information on Raines; Person chosen by American President Bill Clinton as the next director of the OMB.


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