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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: mgc1122
Well, how nice to know .... AFTER THE FLIPPING election.

BTTT! I hope these arses are still alive when all the useful idiots are lined up by their more marxist marxists and eliminated. Oh yea...fast forward twenty years...get er done.

61 posted on 11/07/2008 5:52:48 AM PST by Earthdweller (Socialism makes you feel better about oppressing people.....)
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To: FocusNexus

Why should the public care about who was at the subprime trough? They still have lots of Bush-hating to do.


62 posted on 11/07/2008 5:53:04 AM PST by cookcounty ("A ship in harbor is safe, but that's not why the ship is built." ---Governor Sarah Palin)
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To: FocusNexus
Rahm Emanuel...FYI...

Son of Irgun terrorist, architech of NAFTA, point man for Chinas sweet trade position, a man who served in Israelis military, not ours.

THATS Obama's first choice.
http://ap.google.com/article/ALeqM5jld3VILFDb...

"WASHINGTON (AP) — Barack Obama's campaign has approached Illinois Rep. Rahm Emanuel about possibly serving as White House chief of staff, officials said Thursday as the marathon presidential race entered its final, frenzied stretch with a Democratic tilt."

Architect of NAFTA and the Dem side of the Trillion dollar Bailout
http://www.xanga.com/Saevyor3/677575644/item....
http://blog.progressivedem.com/2007/10/18/hou...
http://sacramentofordemocracy.org/...
http://firedoglake.com/2007/11/19/rahm-emanue...

Point Man on granting China Most Favored Nation trade designation
http://www.thenation.com/doc/20020401/nichols

Father was a member of the Irgun terrorist organization responsible for bombing of King David Hotel.
http://en.wikipedia.org/wiki/Rahm_Emanuel
http://en.wikipedia.org/wiki/Irgun
http://en.wikipedia.org/wiki/King_David_Hotel...

Volunteered his services to the military. – NOT OUR MILITARY, Israel's Military.
http://news.muckety.com/2008/06/04/rahm-emanu...
http://www.voltairenet.org/article144314.html
http://en.wikipedia.org/wiki/Rahm_Emanuel

A really nice guy
http://www.rollingstone.com/politics/story/80...



63 posted on 11/07/2008 5:54:31 AM PST by Stand Watch Listen
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To: FocusNexus

This job was a sinecure to keep him comfy until Blagojevich’s district opened up. I really doubt that he did anything, or even knew much. Boards like this are retirement programs for well connected democrats, aren’t they?


64 posted on 11/07/2008 5:55:36 AM PST by Skid Marx
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To: Stand Watch Listen

Huh. If the Mossad’s running the guy I’d actually feel better.


65 posted on 11/07/2008 5:56:43 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: SE Mom

Check out reply #63. I wonder if that’s what Krauthammer was thinking of. Not sure I buy his reasoning, but it’s certainly interesting info :)


66 posted on 11/07/2008 5:58:47 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
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To: FocusNexus
Do you mean the scandal was over after he left are was it just getting started.
67 posted on 11/07/2008 5:59:19 AM PST by org.whodat ( "the Whipped Dog Party" , what was formally the republicans.)
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To: FocusNexus
The public doesn’t care....Now that he’s hitched his star to Obama, he’s coated in teflon...Don’t you know, its okay when Obamabots are in charge of Freddie Mac — all is forgiven....

Democrats certainly would not give a new Republican president a break on this sort of issue. If what is left of the Republicans in congress have any sense, they will push this issue hard. It will both place the incoming administration on defense and will begin to at last tie much of the economic mess with corrupt Democrat politics. Otherwise what appears to be the most radical government in this country's history will be allowed to thoroughly shred our tattered liberty and Constitution.

68 posted on 11/07/2008 5:59:30 AM PST by Jeff F (austinaero; Phoenix11; WaterBoard)
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To: FocusNexus

From wiki:

_________

Emanuel is said to have “mailed a rotting fish to a former coworker after the two parted ways.”[16] On the night after the 1996 election, “Emanuel was so angry at the president’s enemies that he stood up at a celebratory dinner with colleagues from the campaign, grabbed a steak knife and began rattling off a list of betrayers, shouting ‘Dead! ... Dead! ... Dead!’ and plunging the knife into the table after every name.”[6] His “take-no-prisoners attitude” earned him the nickname “Rahm-bo”.[16]

People who worked with Emanuel at that time “insist the once hard-charging staffer has mellowed out.” He left the White House to accept a well-paid position at Dresdner Kleinwort investment bank in Chicago, where he worked from 1999 to 2002 and reportedly earned US$18 million.[18] Emanuel also served on the Board of Directors for the Federal Home Loan Mortgage Corporation (”Freddie Mac”), 2002-2004.[citation needed]


69 posted on 11/07/2008 5:59:34 AM PST by cookcounty ("A ship in harbor is safe, but that's not why the ship is built." ---Governor Sarah Palin)
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To: Dawn531

I’m afraid the media started waking up a little too late.

When Obama got overly arrogant (as difficult as it was to be even more arrogant than before), he started treating them like crap.


70 posted on 11/07/2008 5:59:36 AM PST by autumnraine (Churchill: " we shall fight in the fields and in the streets, we shall never surrender")
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To: mgc1122

This, from ABC?

Let’s slam the media’s email to get him unappointed. The first of many many battles.


71 posted on 11/07/2008 6:00:10 AM PST by Reagan69 (No Representation without Taxation !)
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To: itsthejourney

Oh, you are SO right.


72 posted on 11/07/2008 6:00:23 AM PST by autumnraine (Churchill: " we shall fight in the fields and in the streets, we shall never surrender")
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To: silverleaf

Exactly. I won’t believe it until I read it in the Enquirer. They are pretty much the only objective journalists left.


73 posted on 11/07/2008 6:01:33 AM PST by Proud 2BeTexan (I voted for Sarah, and am hoping to do so again!)
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To: demshateGod
"Apparently the media aren’t big fans of Emanuel.

He pretty much is nasty to everybody.

I met him in 2003 at an event. He knew nothing of me, shook hands with the coldest-eyed stare I've ever seen. Scary.

74 posted on 11/07/2008 6:02:56 AM PST by cookcounty ("A ship in harbor is safe, but that's not why the ship is built." ---Governor Sarah Palin)
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To: mewzilla
Emanuel during his time on the board opposed every reform proposed by the Bush Administration that would have impacted Freddie and Fannie Mae....

Does the truth matter with any of you people, Mccains campaign manager was doing the same to prevent change at freddie and fannie. As was lobbyists for banks, builders and realors. The majority of congress was bought and paid for on this issue.

75 posted on 11/07/2008 6:03:14 AM PST by org.whodat ( "the Whipped Dog Party" , what was formally the republicans.)
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To: FocusNexus

It doesn’t matter because he’s a Democrat.


76 posted on 11/07/2008 6:03:27 AM PST by jersey117
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To: itsthejourney

nodding in agreement....the ‘anyone but Hillary’ is a reminder to be careful of what you wish for - I carry some of the blame.


77 posted on 11/07/2008 6:03:29 AM PST by yoe (America First and Foremost!)
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To: pepperdog

bookmark


78 posted on 11/07/2008 6:05:34 AM PST by pepperdog (The world has gone crazy.)
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To: cookcounty

Emmanuel has cold dead eyes

I remember him after the $850 bailout plan was passed, standing there behind Nancy Pelosi, like a character from Beetlejuice

and later in interview he said something like “NOW you’ve (America) seen the old ways don’t work. Now WE are going to change things..”

He was talking about capitalism.


79 posted on 11/07/2008 6:08:07 AM PST by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
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To: mewzilla

No doubt Emanuel is a complicated fellow- I wonder how much he knows about Obama’s ties to pro-Palestinian anti-Israel figures.

I say that because I realize a mistake I make is in assuming everyone is well-informed..particularly people inside the circle of high-profile politicians.


80 posted on 11/07/2008 6:08:53 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
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