Obama’s Chief of Staff Pick Took Campaign Contributions from Wall Street

Cybercast News Service ^ | November 7, 2008 | Fred Lucas

[CutePuppy]

Obama’s Chief of Staff Pick Took Campaign Contributions from Wall Street

Friday, November 07, 2008
By Fred Lucas, Staff Writer

Rep. Rahm Emanuel (D-Ill.) with Sol Schatz of the VFW, Thomas Lonze of the State of Illinois, James O’Rourke of the American Legion and Sen. Dick Durbin discussing the Welcome Home GI Bill. (Photo courtesy of congressional website)

(CNSNews.com) – President-elect Barack Obama’s choice for White House chief of staff is one of the biggest recipients of Wall Street money in Congress, according to a Washington, D.C.-based “money-in-politics” watchdog group.
 
The Center for Responsive Politics has issued a report highlighting millions of dollars in campaign contributions that Rep. Rahm Emanuel (D-Ill.) has raised from individuals working in the hedge fund industry, private equity firms, and large investment firms.
 
Emanuel has raised more money from individuals and political action committees in securities and investment businesses than from any other industry.
 
This comes after a presidential campaign that saw Obama frequently criticize Wall Street and blamed lack of government regulations for the economic crisis that hit the country in mid-September.
 
Emanuel, a former Clinton White House aide, is chairman of the Democratic Congressional Campaign Committee and received much of the credit for the Democrats winning a majority in the House of Representatives in 2006 – the first time in 12 years.
 
For his own 2006 re-election campaign, where he faced no serious opposition, Emanuel raised $1.5 million from the investment industry. His other sources of contributions came from lawyers, who gave $682,900, while people working in the entertainment industries gave $376,100.

Though Obama did not accept contributions directly from lobbyists during his campaign, Washington lobbyists have given Emanuel $136,640 since he was elected.
 
Emanuel is a member of the House Ways and Means Committee, which overseas tax legislation, making him “a popular industry target,” the report said.
 
Employees from private equity firm Madison Dearborn Partners contributed $93,600 to his various campaigns since he was first elected to Congress in 2002.
 
Emanuel, who worked as an investment banker after President Bill Clinton left the White House, was elected to Congress in 2002. He has a net worth of between $5 million and $13.2 million, according to his 2007 financial disclosure form.
 
Other top contributors to Emanuel’s campaigns have been employees of UBS, Goldman Sachs, JP Morgan, Citigroup and Morgan Stanley, also financial sources for Obama’s presidential campaign.

[CutePuppy]

Not a surprise, but it's news we would not find in the "news" media.

[scooby321]

Wall Street backed Democrats. I hope they get their money so far it not working for them.

[allmost]

Don’t worry they’ve been recompensed by the American taxpayers. Funneling money through ‘bailout’ bills is the new scam in DC. The worse the economy gets the more money will be misappropriated.

[mewzilla]

That's not all....

'Crony' Capitalism Is Root Cause Of Fannie And Freddie Troubles

[stentorian conservative]

SO did our President-Elect. Nobody gives a damn apparently.

[CutePuppy]

Rahm Emanuel is also a guy who, on the House side, together with Chuck Schumer on the Senate side, came up with the 2006 strategy of running “conservative” “Blue Dog” Democrats for Congress in conservative districts and states who ran to the right of GOP candidates. With the desire of conservatives to teach GOP a lesson in 2006, many of these “conservative” Democrats were elected and ensured leadership of Nancy Pelosi and Harry Reid. Rahm was rewarded by becoming one of the top players in Democratic House leadership.

[mewzilla]

Another link, from this fall, mentions Emanuel...

Democrat Leaders Played to Losea

Emanuel, who served as a board member for Freddie Mac, one of the agencies that precipitated the economic crisis the nation now finds itself in, had no misgivings about taking a leadership role in tanking the bill. "He was cheerleading us along, mothering the votes," says the aide. "We wanted enough to put the pressure on the Republicans and Congressman Emanuel was charged with making it close enough. He did a great job."

Really makes ya wanna invest, eh?

[Wolfie]

Ya think? The question is if there’s anybody on Capitol Hill who doesn’t get money from Wall Street.

[kittymyrib]

With Daley’s Chicago mafia now running the country, we will have to take drastic measures to protect our families.

[ari-freedom]

let’s find everything we can get on this ballerina with a napoleon complex and perhaps share it with our friends on the left.
I’m sure they will be very happy to know that this is the change they believed in. /sarc

[CutePuppy]

So much for “rich Republicans” and the Democrats - “protectors” of the poor, middle class and other race, gender and class “victims” of “rich white Christian men”.

That’s the story that al-media and entertainment community (full of rich liberals) is only happy to keep telling to said “victims”.

[Wolfie]

The beauty of the con is that we think we have a choice.

[Bulwinkle]

Keep an eye on this story:

Rahm Emanuel’s property taxes: UPDATE

Illinois Review received an email today from Eric Herman, the communications director of the Cook County Assessor’s office. In it he accuses us of posting a “wholly inaccurate” story (see story here) in which we asked why Rahm Emanuel’s home at 4228 North Hermitage is not listed on Cook County’s tax rolls and therefore not subject to property taxes.

According to Mr. Herman the answer is: “for tax purposes”. It seems the empty lot (4232 N. Hermitage), which is adjacent to the lot where Emanuel and his family live (4228 N. Hermitage) and where their non-profit foundation is located is the one listed on the Assessor’s website and therefore subject to property taxation.

The Cook County Assessor’s Office provided us the PIN number for the empty lot, which is required to view tax payment records on the Cook County Treasurer’s website. We did that and found that a property tax payment of $13,022.60 was made last year.

But this seems to raise more questions.

Why is Rahm Emanuel’s residence listed on the State Board of Election as 4228 N. Hermitage, while the Cook County Assessor’s website and the Cook County Treasurer’s website have it listed as 4232 N. Hermitage?
Is Rahm Emanuel’s property tax based on the value of the empty lot at 4232 N. Hermitage or on the value of the lot (4228 N. Hermitage) where his house and his tax exempt, non-profit foundation are located?
Why is the property’s PIN number out of sequence?
Is the yearly property tax liability of a home valued at $695,000 in 1998 really only $13,022.60?
We’ve asked the Cook County Assessor’s office to provide us the answers and further clarification. We’ll update you when we have more, and when time permits.

http://illinoisreview.typepad.com/illinoisreview/2008/11/emanuel-pay-pro.html

[the first story>>>

Why doesn’t Rahm Emanuel pay property taxes?

http://illinoisreview.typepad.com/illinoisreview/2008/11/why-doesnt-rahm.html

[CutePuppy]

With Daley’s Chicago mafia now running the country ...

The entire Democratic Party machine is organized as mafia - they convince ignorant people that they will provide "protection", and the method of payment is the votes to send them to the seats of government power. And mafia-run entertainment industry, media and education system are to ensure that the masses stay ignorant and in need or desire of such "protection".

[mewzilla]

Jeez, I just googled the address. Yup, there really is a vacant lot next door, and Emanuel’s house looks pretty spiffy from the air. So does the neighborhood. Thirteen grand in taxes, my derriere.

[org.whodat]

I would like to see the very long list, from both corrupt parties, of the ones that have not taken money from wall street. I would vote for them.

[hellbender]

Right. I’ve long been convinced that the government is best viewed as the biggest racket in the country, far surpassing drugs, gambling, prostitution and all the others put together. Consider Social Security. Imagine what would happen to someone in the private sector who advertised a pension scheme, then plundered its “trust fund” for his immediate personal use?

[mewzilla]

Did you see this?

[SE Mom]

Thanks for the ping to it- I’d read briefly about this yesterday. So Wexler, Emanuel..wonder how many other congressmen have questionable housing arrangements..

[pepperdog]

bookmark