Why are there no pictures of this clown?
In 1991, Frank's live-in boyfriend, Herb Moses, was hired by Fannie. The Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for 2-3 family homes, even though they were defaulting at twice and five times the rate of single homes.
Three years later, President Clinton’s HUD tried to impose a new regulation on Fannie, but was thwarted by Bwaney Frank.
Clinton now blames Democrats for planting the seeds of today’s economic crisis. "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac," Clinton said recently.
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Rahm Emanuel was appointed to the Freddie Mac board Feb 2000 by Bill Clinton, after serving as Clinton's White House political director. Emanuel was a vocal defender of Clinton after scumbag Monica Lewinsky gave Clinton BJ's in exchange for a top federal job....and may have aided and abetted the sex rendezvous. Emanuel then left to run for Congress in 2001...this qualified Emanuel for $380,000 in F/M stock and options and a $20,000 annual fee..... plus all this lowlife could steal.
In Congress, the America-hating Emanuel put the US in financial jeopardy----he passed a bailout of Fannie and Freddie, cosponsoring the Housing and Economic Recovery Act of 2008, which also dissolved OFHEO. It moved their regulatory authority to the Federal Housing Finance Agency (FHFA), which took Fannie and Freddie under conservatorship in Sept 2008. The same act abolished the Federal Housing Finance Board (FHFB) and replaced it with the FHFA.
Rahm Emanuel was appointed to Freddie Mac in Feb 2000 by Bill Clinton, after serving as White House political director (where he sucked up to Clinton during the Monica Lewinski matter. Emanuel was on the F/M board until he left to run for Congress in 2001; this qualified Emanuel to receive $380,000 in F/M stock and options and a $20,000 annual fee.
According to the Chicago Tribune, during his tenure the board was notified by executives of their plans to misstate the earnings of Freddie Mac: “On 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.” (3/5/2009)