Rahm Emanuel and Magnetar Capital

...the hedge fund’s cagey bet on Rahm? Litowitz and his wife had never before made significant political donations. In 2005, they started giving to Rahm and his PACs, and only PACs connected to Rahm, just before the Magnetar CDO program began, and continued through the first quarter of 2008, when the trade would have started to pay out handsomely.

The Litowitzs gave a total of $8,000 to Emanuel and $10,000 to his Our Common Values PAC in May 2005. In 2006 and 2007, they contributed $51,700 to the Democratic Congressional Campaign Committee, while Emanuel was chairman.

We have been advised by individuals involved in political fundraising that the amounts given would be considered significant, and the way the payments were distributed across the PACs is sophisticated.

Every minute this conniving little turd is in "OUR WH," we are being screwed. God knows how much this leech is sucking up. Ohaha put him and his brother in charge of Medicare/Aid billions and he will have dominion over Ohaha's cocokmamie trillion dollar health reform.

Emanuel is wallowing in trillions of stimulus and bailout dollars. Rahm's former employer, Goldman Sachs got $17 Billion from Ohaha's AIG bailout---how much of that $17B went to Emanuel---wire-tranfered to offshore banks?

An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clinton’s campaign for the White House in 1992. Clinton hired Emanuel as his chief fundraiser.

At the same time, however, Emanuel was on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to “introduce us to people,” in the words of one Goldman partner at the time. This is certainly a noteworthy relationship, but it’s one that has almost entirely escaped scrutiny.

Did Emanuel reveal to Ohaha all his Wall Street ties as the trillion dollar financial bailouts commenced? (smirk)

In his four terms in Congress, Emanuel raised $74,750 from Goldman, making the firm his number four source of funds. Goldman helped Emanuel. So how has Emanuel helped Goldman? The most obvious answer is in Emanuel’s lead role in shepherding the “$700 billion” bailout—first proposed by former a Goldman CEO Henry Paulson—through the skeptical House.

How much of the trillion dollar stumulus did Emanuel---suck up----that was wire-tranfered to offshore banks? Emanuel's dual citizenship is crucial----since Israel is the only place in the world where an individual can debark, bring a suitcase full of cash to a bank and nobody asks where it came from or if taxes were paid on it. Emanuel's father is an Israeli and Rahm once volunteered for the Israeli military.

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BACKSTORY Rahm Emanuel was appointed to the Freddie Mac board Feb 2000 by Bill Clinton, after serving as Clinton's White House political director. Emanuel was a vocal defender of Clinton after scumbag Monica Lewinski gave Clinton BJ's in exchange for a top federal job....and may have aided and abetted the multiple sex rendezvous.

Emanuel then left to run for Congress in 2001...this qualified Emanuel for $380,000 in stock and options and a $20,000 annual fee..... plus all this lowlife could steal.

In Congress, the America-hating worm put the US in financial jeopardy----he passed a bailout of Fannie and Freddie, cosponsoring the Housing and Economic Recovery Act of 2008, which also dissolved OFHEO. It moved their regulatory authority to the Federal Housing Finance Agency (FHFA), which took Fannie and Freddie under conservatorship in Sept 2008. The same act abolished the Federal Housing Finance Board (FHFB) and replaced it with the FHFA.

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In addition to his role as White House Chief of Staff, Mr. Emanuel is heavily involved in decisions made by the US Treasury Dept.

CASE IN POINT We kept reading and hearing about Obama's rushing Congress to approve the $787 billion stimulus package early this year. Now uber-Lobbyist Thomas Hale Boggs, Esq, interviewed by ABC nightly news several weeks ago, said, "there's $2 TRILLION federal stimulus waiting to be distributed". Boggs said he was getting unprecedented numbers of calls from all over the US......from those who want a piece of it. (Boggs is the son of former Cong Hale Boggs and brother of former ABC-TV commentator Cokie Roberts).

CASE IN POINT Obama tapped VP Joe Biden to "allocate" the stimulus $$trillions. Biden's family was involved with Texas financier H. Allen Stanford, now charged with an $8 billion offshore fraud, the WSJ said. The Bidens $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said. Stanford-related companies marketed the fund to global investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.......... Paradigm Global Advisors is owned through a holding company by the VP's son, Hunter, and Joe Biden's brother, James, according to newspapers.

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Behind The Real Size of the Govt Bailout ($14 trillion)
Mother Jones | Dec. 21, 2009 / FR Posted Jan 04, 2010, by E. Pluribus Unum

A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street The price tag for the Wall Street bailout is often put at $700 billion—the size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:

Treasury Department bailout programs (Treasury is controlled by Rahm)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].

Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].

TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].

Citigroup asset guarantee: In this joint Treasury, Federal Reserve, and FDIC program, the government agreed to cover potential losses to a Citigroup asset pool worth $301 billion [PDF].

T-bill auctions to fund the Fed: In November 2008, the Treasury announced that it would borrow $260 billion to fund the Supplementary Financing Program, whose proceeds were deposited with the Federal Reserve.

TARP overpayment: This June, the Congressional Budget Office estimated that the federal government would lose $159 billion from its TARP loans and investments due to changes in their market value. (So far, Treasury has earned $14.4 billion in dividends from TARP.)

Bank of America asset guarantee: In this joint Treasury, Federal Reserve, and FDIC program, the government agreed to cover potential losses to a Bank of America asset pool worth $118 billion. Bank of America has withdrawn from the program and has paid the government $425 million [PDF] in compensation.

GSE credit facility program: Additional credit made available to Fannie Mae and Freddie Mac. Expires December 31, 2009.

--SNIP--long read

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Federal Reserve bailout programs
Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.

Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.

Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.

Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.

JPMorgan Chase/Lehman Brothers: In September 2008, the Fed gave JPMorgan Chase $148 billion in help the near-bankrupt Lehman Brothers.

--SNIP--long read

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