Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Emanuel Was Director Of Freddie Mac During Scandal
ABC News ^ | Nov. 7, 2008 | BRIAN ROSS and RHONDA SCHWARTZ

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 ...


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections; US: Illinois
KEYWORDS: acorn; bailout; bho2008; economy; emanuel; fanniemae; fha; financialcrisis; freddiemac; il2008; obama; obamabinlyin; obamatransitionfile; rahmemanuel; rahmrod; rats; scandal; socialism
Navigation: use the links below to view more comments.
first 1-5051-100101-145 next last

1 posted on 11/07/2008 5:02:11 AM PST by FocusNexus
[ Post Reply | Private Reply | View Replies]

To: FocusNexus

Well, how nice to know .... AFTER THE FLIPPING election.


2 posted on 11/07/2008 5:02:43 AM PST by mgc1122
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

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.


3 posted on 11/07/2008 5:05:46 AM PST by austinaero
[ Post Reply | Private Reply | To 1 | View Replies]

To: mgc1122
And guess who got Emanuel that seat on the board...

From this link...

Sweet, Brown columns go inside Rahm

...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?

4 posted on 11/07/2008 5:06:12 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
[ Post Reply | Private Reply | To 2 | View Replies]

To: FocusNexus

Now that he’s hitched his star to Obama, he’s coated in teflon.


5 posted on 11/07/2008 5:06:36 AM PST by Phoenix11
[ Post Reply | Private Reply | To 1 | View Replies]

To: mgc1122

They’re just trying to help Obama’s presidency. Apparently the media aren’t big fans of Emanuel.


6 posted on 11/07/2008 5:06:58 AM PST by demshateGod (the GOP is dead to me)
[ Post Reply | Private Reply | To 2 | View Replies]

To: FocusNexus
On lighter side
7 posted on 11/07/2008 5:07:00 AM PST by bmwcyle (Primary support for McCain and Huck showed complete stupidity)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

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.


8 posted on 11/07/2008 5:07:04 AM PST by itsthejourney (mtbopfuyn has risen from the ashes)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

Sorry Journalism. Too late now. You died. Rest in Peace.


9 posted on 11/07/2008 5:07:35 AM PST by Blogger
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

But, but, but this is ABC? A little too little and a little too late!


10 posted on 11/07/2008 5:08:53 AM PST by Bushbacker1 (President Bush has let me down! Palin in 2012!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

ABC has no credibility to report this

I want to see it in the National Enquirer, at the supermarket checkout stand


11 posted on 11/07/2008 5:09:16 AM PST by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

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.

http://www.cbsnews.com/blogs/2008/10/07/politics/fromtheroad/entry4507703.shtml


12 posted on 11/07/2008 5:09:17 AM PST by Dawn531
[ Post Reply | Private Reply | To 1 | View Replies]

To: mgc1122

The research was done; the truth was out there but the media of course swept it under the rug.....where were you?


13 posted on 11/07/2008 5:09:26 AM PST by yoe (A Free Nation or Barack Obama)
[ Post Reply | Private Reply | To 2 | View Replies]

To: mewzilla

So our country is going to be run by Chicago-style thugery politics.

Nice.


14 posted on 11/07/2008 5:09:59 AM PST by mom3boys
[ Post Reply | Private Reply | To 4 | View Replies]

To: FocusNexus
"and the board failed to spot "red flags,"

Sounds like they "Failed to Connect the Dots"

Obama should appoint Christopher Dodd Attorney General and have him investigate what happened.

15 posted on 11/07/2008 5:09:59 AM PST by Falcon4.0
[ Post Reply | Private Reply | To 1 | View Replies]

To: austinaero
The public doesn’t care.

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.

16 posted on 11/07/2008 5:10:03 AM PST by johnny7 ("Duck I says... ")
[ Post Reply | Private Reply | To 3 | View Replies]

To: FocusNexus

This the change the majority wanted. When they are huddled around their candles, I will be the first with

“Bambi lied, America died”


17 posted on 11/07/2008 5:10:10 AM PST by NTHockey (Rules of engagement #1: Take no prisoners.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus
We need to move on.

What a person does in their private life is private.

It's just about sex.

18 posted on 11/07/2008 5:10:34 AM PST by FReepaholic (Diversity = .45 .357 .223 .38 ...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bushbacker1

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...


19 posted on 11/07/2008 5:10:46 AM PST by PugetSoundSoldier (Indignation over the sting of truth is the defense of the indefensible)
[ Post Reply | Private Reply | To 10 | View Replies]

To: FocusNexus

that’s just lovely...


20 posted on 11/07/2008 5:11:20 AM PST by tutstar (Baptist Ping list - freepmail me to get on or off.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nightshift

gnip...


21 posted on 11/07/2008 5:11:36 AM PST by tutstar (Baptist Ping list - freepmail me to get on or off.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus
Most Americans:



22 posted on 11/07/2008 5:12:21 AM PST by tiredoflaundry
[ Post Reply | Private Reply | To 1 | View Replies]

To: Phoenix11
Now that he’s hitched his star to Obama, he’s coated in teflon.

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?

23 posted on 11/07/2008 5:13:26 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
[ Post Reply | Private Reply | To 5 | View Replies]

To: FocusNexus

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


24 posted on 11/07/2008 5:14:09 AM PST by conservative_guyz
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tallguy

“I can’t hear you. I can’t hear you” ........there now I’m like everyone else.


25 posted on 11/07/2008 5:14:57 AM PST by Cheryllynn
[ Post Reply | Private Reply | To 23 | View Replies]

To: Bushbacker1
But, but, but this is ABC?

ABC = Stephanopolous. Interesting? A little score-settling, perhaps?

26 posted on 11/07/2008 5:15:10 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
[ Post Reply | Private Reply | To 10 | View Replies]

To: FocusNexus
This is from September...

Fanny, Freddie, and Obama

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....

27 posted on 11/07/2008 5:16:12 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

Don’t you know, its okay when Obamabots are in charge of Freddie Mac — all is forgiven.


28 posted on 11/07/2008 5:17:05 AM PST by WaterBoard (Somewhere a Village is Missing it's Socialist.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cheryllynn

Cryptic...


29 posted on 11/07/2008 5:18:53 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
[ Post Reply | Private Reply | To 25 | View Replies]

To: mewzilla

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..


30 posted on 11/07/2008 5:23:25 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
[ Post Reply | Private Reply | To 27 | View Replies]

To: PugetSoundSoldier

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.


31 posted on 11/07/2008 5:25:41 AM PST by Glacier Honey (`)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Dawn531
Doesn’t look like Obama’s honeymoon will last long

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?"

32 posted on 11/07/2008 5:25:46 AM PST by Migraine (Diversity is great... ...until it happens to YOU.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: SE Mom
Heck, Emanuel and Obama both got contributions from Franklin Raines. Neither candidate returned them.

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.

33 posted on 11/07/2008 5:27:38 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
[ Post Reply | Private Reply | To 30 | View Replies]

To: FocusNexus

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.


34 posted on 11/07/2008 5:27:46 AM PST by bvw
[ Post Reply | Private Reply | To 1 | View Replies]

To: SE Mom
...Goldman Sachs...

Some wit on CNBC referred to it as Government Sachs the other day.

Wanna bet Barry picks Corzine for treasury secretary...?

35 posted on 11/07/2008 5:28:59 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
[ Post Reply | Private Reply | To 30 | View Replies]

To: FocusNexus

THE SPICE MUST FLOW


36 posted on 11/07/2008 5:30:42 AM PST by Diogenesis (Igitur qui desiderat pacem, praeparet bellum)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mewzilla

EXACTLY!

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.


37 posted on 11/07/2008 5:31:11 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
[ Post Reply | Private Reply | To 33 | View Replies]

To: itsthejourney
Not that DC was ever clean and above board but he’ll bring it to a new low.

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.

38 posted on 11/07/2008 5:31:21 AM PST by yoe (A Free Nation or Barack Obama)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Dawn531
“In politics everything that goes around, comes around.”

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.

39 posted on 11/07/2008 5:32:47 AM PST by giotto
[ Post Reply | Private Reply | To 12 | View Replies]

To: yoe
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 the MSM wonders why the markets are freaked and people are stuffing their money under the mattress.

40 posted on 11/07/2008 5:33:35 AM PST by mewzilla (In politics the middle way is none at all. John Adams)
[ Post Reply | Private Reply | To 38 | View Replies]

To: austinaero

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.


41 posted on 11/07/2008 5:35:07 AM PST by bushfamfan (United States of America: July 4, 1776-November 4, 2008)
[ Post Reply | Private Reply | To 3 | View Replies]

To: yoe
I think the Clinton's brought the 'new' low

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.

42 posted on 11/07/2008 5:35:23 AM PST by itsthejourney (mtbopfuyn has risen from the ashes)
[ Post Reply | Private Reply | To 38 | View Replies]

To: Falcon4.0
Obama should appoint Christopher Dodd Attorney General and have him investigate what happened.

LMAO

43 posted on 11/07/2008 5:35:27 AM PST by Carry_Okie (If Barack Obama is Vladamir Lenin, Bill Ayers is Leon Trotsky.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: mewzilla

Reference bump! Thanks! ;-)


44 posted on 11/07/2008 5:35:57 AM PST by Tunehead54 (Nothing funny here. ;-)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Diogenesis

45 posted on 11/07/2008 5:36:33 AM PST by struggle ((The struggle continues))
[ Post Reply | Private Reply | To 36 | View Replies]

To: Admin Moderator; FocusNexus
Can we move this to Breaking News. It's HUGH and SERIES!
46 posted on 11/07/2008 5:36:55 AM PST by McGruff (It took a Jimma Carta to give us a Ronald Reagan.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mgc1122
Well, how nice to know .... AFTER THE FLIPPING election.

Geez I thought it was Wall St greed that caused a worldwide stockmarket collapse, not Democrats in Congress blocking reform.

Funny that Obama's first act is to appoint one of the board members of Freddie Mac to work for him.
47 posted on 11/07/2008 5:37:01 AM PST by igoramus08 (Democrats caused Fannie and Freddie to collapse and this Economic Crisis and Recession)
[ Post Reply | Private Reply | To 2 | View Replies]

To: FocusNexus
I'm sure that the DOJ will prosecute all involved in any criminal activities, irrespective of party affiliation.

/starry-eyed lunatic loser 0bama voter

48 posted on 11/07/2008 5:38:04 AM PST by Hardastarboard (America is so "twenty minutes ago")
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus
There's a positive side to the Rahm Emanuel appointment. I believe that Emanuel is a Jew born in Israel. Whatever the appointment says to political opponents here it home, it also says something to all those Islamic Swine around the world who think that Obama Administration is going to hasten the coming of Sharia Law here in the US.

ML/NJ

49 posted on 11/07/2008 5:38:06 AM PST by ml/nj
[ Post Reply | Private Reply | To 1 | View Replies]

To: FocusNexus

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.


50 posted on 11/07/2008 5:38:41 AM PST by savedbygrace (SECURE THE BORDERS FIRST (I'M YELLING ON PURPOSE))
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-100101-145 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson