Those eyes belong on some nameless creature rising from the ocean depths.
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 ...
Asi i said before, this election was the rope the democrats needed to hang themselves with.
We are living the next Michael Crichton novel.
Rahm’s background was immaterial to most of us before the election, except to his Chicago constituents, and they may well have known it. It’s a matter of public record.
It’s only pertinent now, post-election, in regard to his new position.
That’s correct. This is actually good reporting by ABC, so let’s give credit where it’s due.
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They´re not waking up. They knew this, but they were covering for the Messiah. Now that the consequences of their actions are coming to light, they´re having second thoughts...
So what?
We’re all going to get FREE Icecream!
Yipeee!
bump
“I can’t help but remember that last line of the article by the CBS reporter (the one about the plane stinking and how badly Obama treated the press.) He finished his critical article by saying, “In politics everything that goes around, comes around.” So we shall see.”
Unfortunately, the prize was the election, and he got it. He can tell the media to pound sand for the next 2 years, and still get a fairly liberal agenda passed through congress.
Those eyes belong on some nameless creature rising from the ocean depths.
Well, trying telling that to the hotheads. :-)
Wasn’t this guy also involved with covering up now-voted-out Congressman “Morals” Mahoney’s pay-offs with campaign funds to two mistresses? Where is that story now ABC?
Yes. Absolutely! The torch for truth in journalizm has passed to the lowly cage liners.
Say what? I thought we were going to get pie.
WELL,NO !
That’s a war begining for US DEMOCRACY/FREEDOM !
Otherwise it’s the slow death of slavery!
So how much “research” did it take to find out someone was on a board of directors?
They sat on this during the election. Purposely ignored it.
Media = guilty.
This was one of the top 3 stories on Google’s news page a few hours ago. Now I can’t find it.
>>I thought we were going to get pie.
Ah, you didn’t read the fine print.
What Obama really said was we were all going to be baked “IN” the pie.
I posted this letter from Rahmbo. Of course not a word from the media...
‘snip’
“Before my election to Congress, I was fortunate to serve as Vice-Chairman of the Chicago Housing Authority and as a Freddie Mac Board member. In those capacities, I saw firsthand the teamwork between public and private entities that’s required to make affordable housing available to hardworking families. When a family is able to build equity in a home, they’ve taken the first step on the road to creating a solid financial foundation. My home city of Chicago has succeeded in developing affordable housing programs because of the commitment of the city government agencies, Mayor Daley’s office, private sector entities like Fannie Mae and Freddie Mac, and many other state and local organizations. Programs like City Mortgage, New Homes for Chicago, HouseChicago and the Chicago Homeowners Assistance Program have been successful because of the commitment of public and private sector entities to community building. However, despite the successes we have had, much remains to be done, both in Chicago and around the country. That’s why I’m so disappointed in the Administration’s FY2004 budget proposal.
Although I disagree with many of Mr. Bush’s proposals, I’m hopeful that this hearing will be the start of a productive dialogue on affordable housing issues. We Democrats are ready to work with the Administration; but at the same time, we won’t stand idly by and allow President Bush to pull up the ladder of opportunity on our low-income families and their communities.”
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