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Emanuel Was Director Of Freddie Mac During Scandal
ABC News ^ | Nov. 7, 2008 | BRIAN ROSS and RHONDA SCHWARTZ

Posted on 11/07/2008 5:02:10 AM PST by FocusNexus

President-elect Barack Obama's newly appointed chief of staff, Rahm Emanuel, served on the board of directors of the federal mortgage firm Freddie Mac at a time when scandal was brewing at the troubled agency and the board failed to spot "red flags," according to government reports reviewed by ABCNews.com.

According to a complaint later filed by the Securities and Exchange Commission, Freddie Mac, known formally as the Federal Home Loan Mortgage Corporation, misreported profits by billions of dollars in order to deceive investors between the years 2000 and 2002.

Emanuel was not named in the SEC complaint but the entire board was later accused by the Office of Federal Housing Enterprise Oversight (OFHEO) of having "failed in its duty to follow up on matters brought to its attention."

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections; US: Illinois
KEYWORDS: acorn; bailout; bho2008; economy; emanuel; fanniemae; fha; financialcrisis; freddiemac; il2008; obama; obamabinlyin; obamatransitionfile; rahmemanuel; rahmrod; rats; scandal; socialism
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To: Nightshift

gnip...


21 posted on 11/07/2008 5:11:36 AM PST by tutstar (Baptist Ping list - freepmail me to get on or off.)
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To: FocusNexus
Most Americans:



22 posted on 11/07/2008 5:12:21 AM PST by tiredoflaundry
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To: Phoenix11
Now that he’s hitched his star to Obama, he’s coated in teflon.

I don't know. There's only so much teflon to go around & "Freddie" Rahm has got to have a lot of enemies. I expect Obama to continue to get a pass for Freddie/Fannie, et. al -- but I think the Media will begin to slice & dice his advisors who have demonstrable links. Look at how long it took "Freddie" to accept the job! You don't think he was "checking-six" on this?

23 posted on 11/07/2008 5:13:26 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: FocusNexus

these articles are completely over the top. Doesn’t the MSM recognize that the election is over and all that we need now is adoration and praise for our dear leader.

obama’s thought police need to put an end to this hateful propoganda now


24 posted on 11/07/2008 5:14:09 AM PST by conservative_guyz
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To: Tallguy

“I can’t hear you. I can’t hear you” ........there now I’m like everyone else.


25 posted on 11/07/2008 5:14:57 AM PST by Cheryllynn
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To: Bushbacker1
But, but, but this is ABC?

ABC = Stephanopolous. Interesting? A little score-settling, perhaps?

26 posted on 11/07/2008 5:15:10 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: FocusNexus
This is from September...

Fanny, Freddie, and Obama

Check this out...

Another close political adviser, in fact the one man responsible for rallying support for Obama early on among Congressional Democrats, is Rep. Rahm Emanuel, who served on the Board of Directors for Freddie Mac after leaving the Clinton White House. According to Freddie Mac insiders, Emanuel during his time on the board opposed every reform proposed by the Bush Administration that would have impacted Freddie and Fannie Mae....

27 posted on 11/07/2008 5:16:12 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: FocusNexus

Don’t you know, its okay when Obamabots are in charge of Freddie Mac — all is forgiven.


28 posted on 11/07/2008 5:17:05 AM PST by WaterBoard (Somewhere a Village is Missing it's Socialist.)
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To: Cheryllynn

Cryptic...


29 posted on 11/07/2008 5:18:53 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: mewzilla

Rahm is in this Fannie-Freddie mess so deep it’s amazing- and yet Obama CHOOSES him for arguably the most important position in the White House.

Let’s speculate about how far the Fannie-Freddie congressional investigations will go now...

Emanuel was also given astounding MILLION$ in campaign contributions from...Lehman..Goldman Sachs..Morgan..etc..


30 posted on 11/07/2008 5:23:25 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
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To: PugetSoundSoldier

You got it. This way if his name is brought up in the “investigation” the MSM will just claim it was reported months ago and what’s the big deal.


31 posted on 11/07/2008 5:25:41 AM PST by Glacier Honey (`)
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To: Dawn531
Doesn’t look like Obama’s honeymoon will last long

Strange word, in this case -- "honeymoon"; the press, MSM, could hardly be baraq's newlywed wife; uh-uh, the MSM are his whores. So rather than "honeymoon", maybe the question is, "When will he come home from the brothel; or when will the brothel kick him out?"

32 posted on 11/07/2008 5:25:46 AM PST by Migraine (Diversity is great... ...until it happens to YOU.)
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To: SE Mom
Heck, Emanuel and Obama both got contributions from Franklin Raines. Neither candidate returned them.

I think Krauthammer's barking up the wrong tree this time with his theory on why Obama picked Emanuel, reassuring Israel supporters. I think there's something else going on. And it has everything to do with the subprime mess and financial meltdown.

33 posted on 11/07/2008 5:27:38 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: FocusNexus

The chickens pecked the fence posts and gate down so the foxes could get in, because all chickens know that the foxes love them oh so much.


34 posted on 11/07/2008 5:27:46 AM PST by bvw
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To: SE Mom
...Goldman Sachs...

Some wit on CNBC referred to it as Government Sachs the other day.

Wanna bet Barry picks Corzine for treasury secretary...?

35 posted on 11/07/2008 5:28:59 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: FocusNexus

THE SPICE MUST FLOW


36 posted on 11/07/2008 5:30:42 AM PST by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
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To: mewzilla

EXACTLY!

Krauthammer doesn’t freep enough- if at all ;)

We are better informed and more able to connect dots than anyone in the media - a fact that amazes me every day.


37 posted on 11/07/2008 5:31:11 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
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To: itsthejourney
Not that DC was ever clean and above board but he’ll bring it to a new low.

I think the Clinton's brought the 'new' low - what Emanuel brings is the Chicago Machine fully into the White House; I suppose it is a distinction without a difference.........thuggery in full view.

38 posted on 11/07/2008 5:31:21 AM PST by yoe (A Free Nation or Barack Obama)
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To: Dawn531
“In politics everything that goes around, comes around.”

And only a day too late. Now they'll trot out all the stuff they know and sell it in book form. They have about 2 months and 13 days to do it.

39 posted on 11/07/2008 5:32:47 AM PST by giotto
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To: yoe
I think the Clinton's brought the 'new' low - what Emanuel brings is the Chicago Machine fully into the White House; I suppose it is a distinction without a difference.........thuggery in full view.

And the MSM wonders why the markets are freaked and people are stuffing their money under the mattress.

40 posted on 11/07/2008 5:33:35 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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