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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: Falcon4.0

That appointment wouldn’t surprise me in the least.


81 posted on 11/07/2008 6:09:06 AM PST by SueRae
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To: mewzilla
BTW, backhoe, are you gonna do your inimitable linkapalooza thing for Emanuel? If so, here're a bunch :)

I just don't know, see tagline...

82 posted on 11/07/2008 6:13:36 AM PST by backhoe (All across America, the Lights are going out...)
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To: FocusNexus

Fox, meet henhouse.


83 posted on 11/07/2008 6:20:26 AM PST by Red in Blue PA (Little known fact: Barack Obama translated into Kenyan means "Jimmy Carter")
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To: FocusNexus

The media and the Obama zombies have proven that they don’t care about anything but their socialist takeover.


84 posted on 11/07/2008 6:22:42 AM PST by Proud2BeRight
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To: FocusNexus
This should be our first protest.

We must not allow this scandal-ridden, hate-mongering, divisive, partisan career politician to become Obama’s CoS.

Let's fire up the phone lines.

85 posted on 11/07/2008 6:26:37 AM PST by Ghost of Philip Marlowe (If Hillary is elected, her legacy will be telling the American people: Better put some ice on that.)
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To: FocusNexus

Bwah!

The Vast Right Wing Conspiracy shall ride again.

86 posted on 11/07/2008 6:27:06 AM PST by McGruff (Remember Thou shalt not speak ill of any fellow Republican?)
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To: FocusNexus

this is sad beyond words.


87 posted on 11/07/2008 6:28:17 AM PST by Dubya-M-DeesWent2SyriaStupid!
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To: austinaero
The public doesn’t care.

The majority of the American electorate has truly become a flock of mindless Sheeple who only pays attention to the growl in their stomach.

When their stomachs growl, they want a new sheepherder regardless of the true cause of their hunger.

Sheeple being Sheeple, in four years, they will desperately be demanding a new sheepherder. The sad part, however, is that they will still not understand why they want a new sheepherder. They will only know that, instinctively, they want a new one because the growl in their stomachs has increased. All other factors are beyond their comprehension.

88 posted on 11/07/2008 6:34:59 AM PST by Polybius
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To: FocusNexus
All I can say is....

Mash here

link is PG-13!

89 posted on 11/07/2008 6:36:04 AM PST by sweet_diane (I have no problem w/ the color of his skin... it's the content of his character that bothers me!)
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To: SE Mom

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

The media is very rarely interested in the whole truth.


90 posted on 11/07/2008 6:39:10 AM PST by Western Phil
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To: austinaero

They didn’t care because of the economy..they wanted CHANGE, but they’ll care once Obama get’s in and the economy starts to tank even more...then they’ll care.


91 posted on 11/07/2008 6:43:28 AM PST by snarkytart
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To: Stand Watch Listen
..... a man who served in Israelis military .....

Well, Obama will soon find out that he has just become the next "Great Satan" in the eyes of the Islamic world.

For a naive Babe in the Woods, that is a good thing.

92 posted on 11/07/2008 6:43:35 AM PST by Polybius
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To: FocusNexus

Taht’s why Obama likes him. The more ruination they can inflict on the economy, the more dependent people they make — and own — and teh easier it is to sell their socialism.

Burn the Reichstag and blame the conservatives.


93 posted on 11/07/2008 6:48:45 AM PST by TBP
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To: FocusNexus

Rahm also earned $200,000; criminal.


94 posted on 11/07/2008 6:50:40 AM PST by 1Old Pro (Obamarx wants Redistributive Reparations)
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To: SE Mom
Let’s speculate about how far the Fannie-Freddie congressional investigations will go now...

They'll blame Bush! It's our side's fault. Where are the strong conservative leaders to YELL from the rooftops about F & F and it's connections to the dems and now the chief of staff? Why aren't the republicans raising this issue and not ABC and others?

95 posted on 11/07/2008 6:51:16 AM PST by snarkytart
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To: FocusNexus

Unbelievable. Cheif of Staff!?


96 posted on 11/07/2008 6:51:26 AM PST by villagerjoel ("Tyranny sincerely exercised for the good of its victims may be the most oppressive." CS Lewis)
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To: austinaero

I´m not so sure. The public voted for an image. The image of “hope,” the idea that “yes we can,” but when they start to realize what they just did, I think the shine might soon wear off...


97 posted on 11/07/2008 6:52:43 AM PST by villagerjoel ("Tyranny sincerely exercised for the good of its victims may be the most oppressive." CS Lewis)
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To: FocusNexus

Now we know. I suggest Freepers go into research and archive mode before history is erased to protect the guilty.


98 posted on 11/07/2008 6:53:28 AM PST by Brian S. Fitzgerald
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To: FocusNexus

This will not get the airplay that Palins cloths got.

This country is so screwed.


99 posted on 11/07/2008 6:53:39 AM PST by soycd
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To: FocusNexus

Excellent. He’s got dirty money on his hands and he’s a clinton holdover. Doesn’t sound like much of a “change,” does it? I wonder how low O’s ratings can go before he even takes offce.


100 posted on 11/07/2008 6:55:13 AM PST by ElayneJ
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