Skip to comments.Emanuel Was Director Of Freddie Mac During Scandal
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 ...
Well, how nice to know .... AFTER THE FLIPPING election.
The public doesn’t care. If they aren’t afraid of all the scary Obama associates, the pretty much nothing is going to stick to this group. Someone used the word thugocracy. I think that fits. This may be the first administration that is more generous to the world than it’s own citizens. I know, that’s debatable, but the tone is certainly there.
From this link...
...Chicago: Returns to Ravenswood, makes millions as an investment banker in a few deals; tapped by Clinton for a plum spot on Freddie Mac board; Daley appointee on CHA board. Wins House seat in 2002 with help of Daley Machine. Daley loyalist.
Makes ya just wanna run out invest, don't it?
Now that he’s hitched his star to Obama, he’s coated in teflon.
They’re just trying to help Obama’s presidency. Apparently the media aren’t big fans of Emanuel.
Just the first in a long line of payment for services rendered to his neighbors and cohorts in crime. Not that DC was ever clean and above board but he’ll bring it to a new low.
Sorry Journalism. Too late now. You died. Rest in Peace.
But, but, but this is ABC? A little too little and a little too late!
ABC has no credibility to report this
I want to see it in the National Enquirer, at the supermarket checkout stand
Doesn’t look like Obama’s honeymoon will last long, if ABC is “defining” his picks for staff, that’s a good thing.
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.
The research was done; the truth was out there but the media of course swept it under the rug.....where were you?
So our country is going to be run by Chicago-style thugery politics.
Sounds like they "Failed to Connect the Dots"
Obama should appoint Christopher Dodd Attorney General and have him investigate what happened.
And they really believe it was Bush and the banks who brought on the Wall Street meltdown and foreclosed on peoples homes... the DBM told them so.
This the change the majority wanted. When they are huddled around their candles, I will be the first with
“Bambi lied, America died”
What a person does in their private life is private.
It's just about sex.
No, this is the PERFECT timing. It didn’t hurt the Marxist Messiah’s election, and it’s so far from the inauguration that when Emanuel actually TAKES that role, the MSM can say “old news!”
They know EXACTLY what they’re doing...
that’s just lovely...
I don't know. There's only so much teflon to go around & "Freddie" Rahm has got to have a lot of enemies. I expect Obama to continue to get a pass for Freddie/Fannie, et. al -- but I think the Media will begin to slice & dice his advisors who have demonstrable links. Look at how long it took "Freddie" to accept the job! You don't think he was "checking-six" on this?
these articles are completely over the top. Doesn’t the MSM recognize that the election is over and all that we need now is adoration and praise for our dear leader.
obama’s thought police need to put an end to this hateful propoganda now
“I can’t hear you. I can’t hear you” ........there now I’m like everyone else.
ABC = Stephanopolous. Interesting? A little score-settling, perhaps?
Check this out...
Another close political adviser, in fact the one man responsible for rallying support for Obama early on among Congressional Democrats, is Rep. Rahm Emanuel, who served on the Board of Directors for Freddie Mac after leaving the Clinton White House. According to Freddie Mac insiders, Emanuel during his time on the board opposed every reform proposed by the Bush Administration that would have impacted Freddie and Fannie Mae....
Don’t you know, its okay when Obamabots are in charge of Freddie Mac — all is forgiven.
Rahm is in this Fannie-Freddie mess so deep it’s amazing- and yet Obama CHOOSES him for arguably the most important position in the White House.
Let’s speculate about how far the Fannie-Freddie congressional investigations will go now...
Emanuel was also given astounding MILLION$ in campaign contributions from...Lehman..Goldman Sachs..Morgan..etc..
You got it. This way if his name is brought up in the “investigation” the MSM will just claim it was reported months ago and what’s the big deal.
Strange word, in this case -- "honeymoon"; the press, MSM, could hardly be baraq's newlywed wife; uh-uh, the MSM are his whores. So rather than "honeymoon", maybe the question is, "When will he come home from the brothel; or when will the brothel kick him out?"
I think Krauthammer's barking up the wrong tree this time with his theory on why Obama picked Emanuel, reassuring Israel supporters. I think there's something else going on. And it has everything to do with the subprime mess and financial meltdown.
The chickens pecked the fence posts and gate down so the foxes could get in, because all chickens know that the foxes love them oh so much.
Some wit on CNBC referred to it as Government Sachs the other day.
Wanna bet Barry picks Corzine for treasury secretary...?
Krauthammer doesn’t freep enough- if at all ;)
We are better informed and more able to connect dots than anyone in the media - a fact that amazes me every day.
I think the Clinton's brought the 'new' low - what Emanuel brings is the Chicago Machine fully into the White House; I suppose it is a distinction without a difference.........thuggery in full view.
And only a day too late. Now they'll trot out all the stuff they know and sell it in book form. They have about 2 months and 13 days to do it.
And the MSM wonders why the markets are freaked and people are stuffing their money under the mattress.
Nor does the press really care. This is ho hum ‘journalism’ to play the game as if they are fair, but they will always take up for the Demonrats no matter how corrupt. And so we are about to have corruption from top to bottom with all of them. The press being right there with them in corruption. This is the Union of Socialists of America. The new reality of a country killed from within.
Hate to say it but I'm waxing nostalgic for ol' BJ and Hill these days. At least with them you knew at the end America would manage to survive.
Reference bump! Thanks! ;-)
/starry-eyed lunatic loser 0bama voter
With massive public pressure, Obama CAN be forced to throw Emanuel under the bus. Unless Obama is down with being tied to the economic collapse throughout his single term in the White House.
Never give up the opposition to the Marxist.