Skip to comments.Video: Rahm Emmanuel's Freddie Mac Connection
Posted on 03/27/2009 12:30:25 PM PDT by careyb
Steve Doocy discusses with Dan Gainor.
It’s those GREEDY REPUBLICANS. That’s been the media and DNC’s talking point all along.
Outstanding question: Why hasn’t mainstream media focused on Emanuel & Frank? If Emanuel has been Karl Rove, the media would have pounced on this issue day after day for a month. Obozo’s people get a free pass. GGGGGrrrrr!!!!!!
"Houston, we have a problem."
White House COS "pledging allegiance" to the USA on inauguration day.
"On (Rahm) Emanuel's watch, the board was told by executives of a plan to use accounting tricks to mislead shareholders about outsize profits the government-chartered firm was then reaping from risky investments.
The goal was to push earnings onto the books in future years, ensuring that Freddie Mac would appear profitable on paper for years to come and helping maximize annual bonuses for company brass. The accounting scandal wasn't the only one that brewed during Emanuel's tenure. During his brief time on the board, the company hatched a plan to enhance its political muscle.
That scheme, also reviewed by the board, led to a record $3.8 million fine from the Federal Election Commission for illegally using corporate resources to host fundraisers for politicians. Emanuel was the beneficiary of one of those parties after he left the board and ran in 2002 for a seat in Congress from the North Side of Chicago. The board was throttled for its acquiescence to the accounting manipulation in a 2003 report by Armando Falcon Jr., head of a federal oversight agency for Freddie Mac. The scandal forced Freddie Mac to restate $5 billion in earnings and pay $585 million in fines and legal settlements.
It also foreshadowed even harder times at the firm. Many of those same risky investment practices tied to the accounting scandal eventually brought the firm to the brink of insolvency and led to its seizure last year by the Bush administration, which pledged to inject up to $100 billion in new capital to keep the firm afloat. The Obama administration has doubled that commitment."
Rahm Emanuel's Profitable Raping of Freddie_Mac
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.Emanuel should have to pay back the money he raped from Freddie Mac.
Did anyone notice the darkness around ole rahmbo’s eyes? Looks like he isn’t getting any sleep. Pressure is on!
The picture of Dorain Gray comes to mind. He’s got corruption written all over his putrid face.
Gotta wonder what it takes to rid ourselves of this 3/1-fingered, plie-ing little sucker.
He didn’t pay Chicago property taxes——the Chi PTB protected the scumbass. He stole from Fannie Mae. He stole tax monies via earmarks......etc etc etc, ad infinitum, ad nauseaum. Now he’s even got the WH fronting for his stealing.
"Yippy, I am one happy plie-ing little sucker. I control the census, US foreign
policy, the Medicare/aid billions. I got a tax-free house with my own tax-exempt
foundation......and I even sucked-up last year's earmarks."
Keep in mind: Obama's closest advisors-----Rahm Emanuel (holds dual citizenship), David Axelrod, Dennis Ross, Joe Biden, and Hillary Clinton----reflect a neocon orientation, even though none of these individuals are actually card-carrying neocons
Easiest path to becoming a millionaire = Democratic Party leadership