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 ...
it doesn’t matter, the people do not care and they choose to believe a lie. The very people who cause this terrible mess are now in power and the stupid people that put them there do not even realize it.
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.
ABC decides to report unfavorable things about the Obamessiah now that they've succeeded in getting him elected. Way to go, mainstream media.
It will make Clinton’s game look like child’s play.
The inability to explain the FM/Dem role in the scandal was McCain's biggest failure of his campaign. Instead of getting on tv and immediately countering the Dems lies and putting the blame where it belonged, he AGREED!!! with the Dems that it was "greedy" bankers aka Republicans who caused the meltdown. It was only later that McCain, ineffectually, linked the Dems to the scandal. Too little, too late.
Big Media is now pushing "credit default swaps" aka greedy bankers as the cause. Sixty Minutes did a piece on CDSs a few weeks ago, and got some people I never heard of to blame the whole mess on CDSs. The FMs and the Dem complicity in the scandal were never mentioned.
At least Kennedy had the decency to leave the mafia in Chicago and Las Vegas where it belongs...looks like this may not be the Camelot the average voter may have thought while coloring in their ballot!
Are you starting to realize your days are numbered, abc?
That’s good!
This is more information than ABC bothered to culiminate on Obama in 2yrs!
They don’t have to worry about the MSM connecting the dots - the MSM is in the tank...
This should go back to the top for at least a full 24 hours to accomodate long-shift workers, weekend warriors, etc. If I had my ‘druthers, it would be a sticky.
The American people don’t know that. They don’t recognize Emnanual nor do they know what “Freddie Mac” is. They are asleep in their socialist slumber, along with Christopher Buckley et al.
And that would open up a Senate seat for a RINO to fill — never happen.
What is there about the American people that makes them choose such “leaders” who are essentially traitors?
You appear to be confused. Do you think McCain’s campaign manager is under consideration for Obuma’s Chief of Staff?
I don’t think I am a bit confused, but you sure are, it is not an elected position.
Crichton will be missed.
Your confusion worses from merely believing that your original comment had any relevancy to the article to believing I was speaking of an “elected” position for some reason. Just give it up.
And I don't think the few remaining will take a stand about it now either.
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