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 ...
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.
Why should the public care about who was at the subprime trough? They still have lots of Bush-hating to do.
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?
Huh. If the Mossad’s running the guy I’d actually feel better.
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 :)
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.
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]
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.
This, from ABC?
Let’s slam the media’s email to get him unappointed. The first of many many battles.
Oh, you are SO right.
Exactly. I won’t believe it until I read it in the Enquirer. They are pretty much the only objective journalists left.
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.
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.
It doesn’t matter because he’s a Democrat.
nodding in agreement....the ‘anyone but Hillary’ is a reminder to be careful of what you wish for - I carry some of the blame.
bookmark
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.
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.
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