Franklin Delano Raines
Raines became the second Black American CEO of a major US corporation when he took the Chief Executive position of Fannie Mae in 1999. He began his career as a staff in Richard Nixon’s Administration and served in the Jimmy Carter Administration as Associate Director for economics and government in the Office of Management and Budget and later the Assistant Director of the White House Domestic Policy.
In 1991 he became the Vice Chairman of Fannie Mae but left in 1996 to serve as the Director of the US Office of Management and Budget in the Bill Clinton Administration. He left the government job and returned to Fannie Mae in 1999 as the Chief Executive Officer.
