Raoul L. Carroll has an extensive financial and legal background and was appointed to two positions, which required Senate confirmation, by President George Bush. In the most recent of these he served as President of the Government National Mortgage Association (Ginnie Mae). At Ginnie Mae he oversaw approximately $500 billion of outstanding securities, which are the most widely traded mortgage backed securities in the world. In the second political appointment he served as General Counsel at the Department of Veterans' Affairs. Prior to that Mr. Carroll was a Partner in Bishop, Cook, Purcell & Reynolds, a 100+ attorney law firm based in Washington, D.C., where he specialized in the underwriting of fixed income securities. Mr. Carroll started his own law firm in the early eighties. He was appointed by President Carter as an Associate Member of the Board of Veterans' Appeals in 1980 and has also served as an Assistant US Attorney for the District of Columbia. He currently is a General Partner at Christalex Partners and lives with his wife and two children in Washington, DC.