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...