I paid for the academic research I made. “Both he and I were from Minnesota,” Mondale recalled in an interview. In 1990, Johnson went to work for the Federal National Mortgage Association (Fannie Mae) and quickly became its $5 million-a-year chairman. After leaving Fannie Mae, Johnson joined the board of directors of several companies, including Goldman Sachs and Target. THP forums bring together key policy makers, academic experts, and business leaders to discuss ways to address our nation’s most pressing economic challenges. Mr Johnson was so connected and held so many powerful positions that Democratic agent and Deputy Chief of Staff of President Bill Clinton, Harold M. Ikes, published the Washington Post in 1998. (2011), we explored the origin of the financial crisis. Still, Johnson once asserted that Fannie Mae would never cost taxpayers a dime, the authors say. Is written in. Johnson died on Sunday At his house in Washington. Funded by the Fannie Mae Foundation, he launched the institution’s City and Metropolitan Policy Center, now the Metropolitan Policy Program. Johnson became his secretary when Mr. Mondale was elected Vice President in 1976. In 1999, Johnson received an Honorary Doctor of Humane Letters Degree from Howard University, and in 2002, he received an Honorary Doctor of Laws Degree from Skidmore College. He said this was part of the American dream. He became Chairman and Chief Executive Officer in 1991. James A. Johnson is Chairman of Johnson Capital Partners from 2001 to the present. After leaving, he returned to his delicate work, assisting Democratic candidates in the election of vice presidents, debate negotiations, and transition plans. Javascript is required for the best experience on this site. THP collaborates with leading experts to produce evidence-based policy proposals that foster prosperity through broad-based, sustainable economic growth. His father, Alfred Ingwald Johnson, owned a grocery store and was a real estate broker. He said he was the “chairman of the universe.”, Even Mr Johnson had a hard time explaining what he did to make a living. [TEXT: "FANNIE MAE LOBBIES HARD TO PROTECT ITS TAX BREAK," "HIGH PAY AT FANNIE MAE FOR THE WELL-CONNECTED"] MALE NARRATOR: Fannie cooked the books, and Johnson made millions. James A. Johnson. Kriston McIntoshPhone: (202) 797-6157kmcintosh@brookings.edu. But on June 11, before Johnson had gotten far in the vetting process, he resigned from the committee. He has been a Democratic presidential candidate for the next 40 years, including Edmund Muskie, George McGovern, Walter Mondale, Al Gore, and Senator Kelly. Fannie Mae's Leadership Team. In 1999, the year after he retired, net income more than tripled to $ 3.91 billion. Johnson has earned an estimated $ 100 million in the company over eight years. From 1977 to 1981, Johnson was Executive Assistant to Vice President Walter F. Mondale, where he advised the Vice President on domestic and foreign policy and political matters. His son Alfred said the cause was a complication of a neurological disorder. In 2016’s oral history, Johnson avoided controversy over his tenure at Fannie Mae. He was 76. Born: 24-Dec-1943 Birthplace: Benson, MN Died: 18-Oct-2020 Location of death: Washington, DC Cause of death: unspecified Gender: Male Race or Ethnicity: White Sexual orientation: Straight Occupation: Business Party Affiliation: Democratic Nationality: United States Executive summary: CEO of Fannie Mae, 1991-98 Executive Assistant to … He was 76 years old. After earning a master’s degree in public policy from Princeton in 1968, he signed the anti-war presidential campaign for Eugene J. McCarthy. All content © 2020 The Hamilton Project. After reviewing the investigation, Johnson noticed that Kiel frequently compared with John F. Kennedy and told Benzen and his team to expect to do so in the debate. Prior to joining Perseus, Johnson served as Vice Chairman (1990), Chairman and Chief Executive Officer (1991–98), and Chairman of the Executive Committee (1999) of Fannie Mae. Benzen raided when Mr. Kiel said on stage that he had as much parliamentary experience as Kennedy sought the president. Johnson was “an anonymous architect of the public-private homeownership movement that almost destroyed the economy in 2008,” and Gretchen Molgenson, then New York Times business journalist, and financial analyst Joshua Rosner said, “a reckless crisis. accent. He also hired scholars, writers, and thinkers to study urban vital trends and the intersection of race and public policy as chairman of the Brookings Institution, a liberal research group. He stayed out of presidential politics while at Fannie Mae … He is also the senior advisor to the Chairman and CEO of Cranemere, LLC. As Chairman and Chief Executive Officer, he led Fannie Mae to record profits. A pillar of the Washington establishment, Mr. Johnson would parlay his extensive political skills into a second career in finance and emerge as a major power broker who simultaneously led three prominent institutions: Fannie Mae, the Kennedy Center and the Brookings Institution. ... Steve James. Johnson also serves on the Boards of Directors of The Goldman Sachs Group, Inc., and previously served on the Board of Directors at Target Corporation, UnitedHealth Group, Gannett, Temple Inland, and the Forestar Group among others. Prior to joining Lehman Brothers, he was President of Public Strategies, a Washington, D.C.-based consulting firm he founded to advise corporations on strategic issues. Welcome! Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million. Jim Johnson – A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. James A. MINNEAPOLIS (AP) — James A. Johnson, a former Democratic campaign operative who was CEO of housing lender Fannie Mae in the 1990s and served as chairman of Walter Mondale’s presidential bid, died Sunday at his home in Washington. Instead, he focused on the company’s goal of helping low-income families, immigrants, and young people get mortgages and own their own homes. Appointed as chief executive of Fannie Mae in … Senior Vice President and Chief Marketing Officer. He was 76. To date, Fannie and Freddie have cost Americans more than $160 billion. Stergios "Terry" Theologides. “I wasn’t a very good candidate,” he said. "James A. Johnson, a former Democratic campaign operative who led Fannie Mae in the 1990s and transformed the mortgage giant into a political powerhouse, ushering in an era of striking profitability and opulence that was later seen as a harbinger of the 2008 financial crisis, … James Arthur Johnson was born on Dec. 24, 1943, in Benson, Minn., a small town along the Chippewa River where his … Then, Obama asked him to pick his V.P. … your password The story centers around James Johnson, a Democratic sage with a raft of prestigious connections. Johnson returned to politics in 1984 to manage Mondale’s unlucky presidential campaign. Johnson holds a B.A. He also shared some of the advice he received while running Fannie Mae. When people ask, he said in his 2016 oral history, “I have some combination of public policy, politics, government, philanthropy, and business.”, At another point, he described his work as follows: “I speak.” But he never graduates from school. In an interview, Mondale said the 49-state overwhelming victory over President Ronald Reagan did not reflect Johnson. He chairs the Advisory Council of the Stanford Center on Longevity. "Jim" Johnson, a former CEO of Fannie Mae and Democratic adviser, died Oct. 18, according to his company website. In 2004, when he refused to reveal details of the search for the Vice President, who was leading Senator John Kerry, he told the New York Times, “I would consider myself cautious.”. June 11, 2008 — -- Former Fannie Mae executive Jim Johnson, who was a leader of the vice presidential search committee for presumptive Democratic presidential nominee Sen. Barack Obama, resigned from that unpaid position today amid criticisms that Johnson represented a world of influence and special interests that stood in stark contrast with what Obama's campaign purports to … Kimberly H. Johnson. Mr. Johnson died on Sunday at his home in Washington. He was Vice Chairman of Perseus LLC from 2000–12. In addition to leading Fannie Mae, Johnson worked for financial firms Perseus LLC and Shearson Lehman. The CEO of Fannie James Johnson and his top four executives took home $ multi-million annual pay packages and were vested with tens of $millions of company stock, which elicited the CBO to conclude "Congress may want to revisit the special relationship that exists between the government and Fannie Mae and Freddie Mac." He became Chairman and Chief Executive Officer in 1991. Within two blocks, there were 14 homes full of his aunts, uncles and cousins. USA News, Australia News, New Zealand News, South Africa News, UK News, James A. Johnson, Democratic Power Broker, dies at age 76, Blockade may limit asthma attacks in children, The most accurate map of our galaxy accurately shows 1.8 billion space objects, Nila Tanden’s unrepentant bullying should disqualify her from Biden’s cabinet | Arwa Mahdawi | Opinion, Answer the OG series trivia quiz saved by Bell’s new cast members, 12 trainings to quickly lose tummy fat at home, Trump ordered most U.S. troops to withdraw from Somalia, Studies Show Benefits of Mediterranean Diet for Patients with Heart Disease. He was 76. AKA James Arthur Johnson. After leaving, he returned to his delicate work, assisting Democratic candidates in the election of vice presidents, debate negotiations, and transition plans. I received it and resigned. Since 2011, he has chaired the Advisory Committee of the Stanford Longevity Center. After departing from Fannie Mae in 1998, he started his own firm, Johnson Capital Partners, in 2001. Terms and Conditions. MALE NARRATOR: Meet Jim Johnson. The company, formally known as the Federal National Mortgage Association, appeared to be at a crossroads. Mr. Johnson died on Sunday at his home in Washington. He is also a member of the Council on Foreign Relations, and the Council of the National Museum of African American History. Still, he ran some of the most influential institutions in the country’s capital. “Jim Johnson was clearly the reason the senator was prepared for that exchange,” Jack Martin, a longtime Bentsen aide who was in the room at the time, ... Fannie Mae, the Kennedy Center and the Brookings Institution. Johnson also received an Honorary Doctor of Humane Letters Degree from Augsburg College in May 2006. He was 76. Posted in American Consumers, Bank of America, Christopher Dodd, Current Affairs, Economy, Fannie Mae, Freddie Mac, Ginnie mae, Home Loan, Housing Crisis, JP Morgan | 3 Comments » Larry Doyle A Wall Street veteran's views and instincts on the markets, economy, and all things financial. View James Johnson’s profile on LinkedIn, the world's largest professional community. He was 76. His marriage to Catherine Marshall and Isaacs ended with a divorce. With funding from the Fannie Mae Foundation, he started the institution’s Center on Urban and Metropolitan Policy, now the Metropolitan Policy Program. “And we spoke the same language.”. Earlier, he was employed by the Dayton Hudson Corporation (Target Corporation), worked as a staff member in the U.S. Senate, and was on the faculty of Princeton University. Executive Vice President and Chief Operating Officer. Johnson left in 1990 to join Fannie Mae as vice chairman; he became chairman and chief executive in 1991. Prior to joining Perseus, Johnson served as Vice Chairman (1990), Chairman and Chief Executive Officer (1991–98), and Chairman of the Executive Committee (1999) of Fannie Mae. He briefly led Senator Barack Obama’s vice-presidential election process in 2008, but reported in the Wall Street Journal that he received preferential lending from Country Wide Financial, a mortgage company at the heart of the subprime mortgage crisis. your username. Johnson made his fortune at the Federal National Mortgage Association (Fannie Mae), where he worked from 1991 to 1998. While at Fannie Mae, he was away from presidential politics. He had been away long before the subprime mortgage crisis struck, but failed by encouraging practices that contributed to the collapse of homes in 2008. In 1988, James A. Johnson, a Democratic operative, was helping Senator Lloyd Bentsen, the Democratic vice-presidential nominee, prepare for his debate with The Elite Kennedy Center is now more accessible. He proved Fannie Mae’s aggressive lobbyist — making strategic financial donations to parliamentary regulators, hiring former civil servants from both parties, and blunting criticism of some of the company’s more dangerous financial practices. "Jim" Johnson, a former CEO of Fannie Mae and Democratic adviser, died Oct. 18, according to his company website. I ndeed, preserving its government subsidy is Fannie Mae’s central mission, which helps to explain why a fellow like Jim Johnson is the CEO of this $325 billion company. Later, when he was chairman of the John F. Kennedy Performing Arts Center, he and his wife, Maxine Isaacs, created and undertook the Millennium Stage for free concerts and other performances 24/7. 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No one became president, but Johnson maintained his reputation as a practical, wise, and credible insider.

James Arthur Johnson was born on Dec. 24, 1943, in Benson, Minn., a small town along the Chippewa River where his Norwegian grandparents had settled. James A. Johnson left the company in 1990 and joined Fannie Mae as Vice Chairman. and raise thousands for his campaign. Is Covid’s “innate immunity” better than a vaccine? After Mondale’s term ended in 1981, Johnson founded a political consulting firm, Public Strategy, with Richard C. Holbrook, the chief diplomat of several Democratic governments. His mother, Adeline (Rasmussen) Johnson, taught Latin and German at a local high school. Before joining Fannie Mae, Johnson was a Managing Director in Corporate Finance at Lehman Brothers. In fact, he supported racial and economic equality throughout his career, starting with his participation in the 1965 civil rights movement from Selma to Montgomery, Alabama while in college. Johnson and Holbrook sold their public strategy to Searson Lehman Brothers in 1985, where they both became Managing Directors of the Investment Banking Division. And grandchildren. While at Fannie Mae, he was away from presidential politics. Jim Johnson – A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. It was. The man he chose to lead his effort was James A. Johnson, the former chief executive of Fannie Mae and one of the most powerful men in Democratic circles in Washington. in Political Science from the University of Minnesota and a Master’s in Public Policy from the Woodrow Wilson School at Princeton University. “He was particularly good at manipulating lawmakers, scrutinizing regulators, and leaving bills for taxpayers,” they added. Before joining Fannie Mae, Johnson was a Managing Director in Corporate Finance at Lehman Brothers. The man responsible for the change was James Johnson, a close aide to Vice President Walter Mondale who came to Fannie Mae in 1990. You say you’re in the American dream business.”. “You are not Jack Kennedy,” he said in a devastating counterattack, one of the most memorable moments of debate in American political history. A pillar of Washington’s founding, Johnson has applied his extensive political skills to his second career in finance as a leading power broker who simultaneously leads three prominent institutions: Fannie Mae, Kennedy Center and Brookings Institution. Johnson left the company in 1990 and joined Fannie Mae as Vice Chairman. A member of the Democratic Farmer-Labour Party, he was elected to the state legislature and chaired the House of Representatives in the late 1950s. It was. accent. In 1988, Democratic agent James A. Johnson helped Democratic Vice Presidential candidate Lloyd Bentsen prepare for a discussion with Republican opponent Danquere. From 1990 to 2000, the company's stock grew 500 percent. Johnson serves as Chairman Emeritus of The John F. Kennedy Center for the Performing Arts and The Brookings Institution. Log into your account. He is a member of the American Academy of Arts and Sciences and he also serves on the International Council of the Belfer Center for Science and International Affairs at Harvard. THP charts, maps, and tables highlight economic policy challenges through dynamic interactive features. “Never say you’re in the secondary mortgage market. “Jim Johnson was clearly the reason Senator was prepared for the exchange,” Jack Martin, a longtime aide to Benzen, who was in the room at the time, said in an interview. ... Senior Vice President and Chief Compliance & Ethics Officer. He graduated with a degree in political science in 1966. In 1997, Johnson received an Honorary Doctor of Laws Degree from Colby College and an Honorary Doctor of Laws Degree from the University of Minnesota in May 2006. James Arthur Johnson was born on December 24, 1943 in Benson, Minnesota, in a small town on the Chippewa River where Norwegian grandparents settled. It has surfaced. In addition to his son, Johnson is surviving by his wife, Heather Muir Kirby, managing director of Deutsche Bank. Jim attended the University of Minnesota and was elected student council president in his second year. You have JavaScript turned off! accent. James has 5 jobs listed on their profile. Former Fannie Mae CEO. The council aims to make technological advances for older people to lead healthy and rewarding lives. Most importantly, mortgage giant Fannie Mae helped him become one of the world’s leading financial institutions. THP blog posts offer analysis of economic policy challenges and highlight solutions to promote evidence-based economic growth. When he left Fannie Mae, Johnson was receiving $6 million to $7 million a year in compensation and perks, part of a pattern at the institution that …