Well Rahm Emanuel is now the chief of staff for the “Chosen ONE”..Lets look at the bi-partison pick Obama made.
ABC News: Emanuel Was Director Of Freddie Mac During Scandal
New Obama Chief of Staff, Others on Board, Missed “Red Flags” of Alleged Fraud Scheme.
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.
President-elect Barack Obama’s newly appointed chief of staff, Rahm Emanuel, served on the board of…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 click here to read but the entire board was later accused by the Office of Federal Housing Enterprise Oversight (OFHEO) click here to read of having “failed in its duty to follow up on matters brought to its attention.”
In a statement to ABCNews.com, a spokesperson said Emanuel served on the board for “13 months-a relatively short period of time.”
The spokesperson said that while on the board, Emanuel “believed that Freddie Mac needed to address concerns raised by Congressional critics.”
Freddie Mac agreed to pay a $50 million penalty in 2007 to settle the SEC complaint and four top executives of the Federal Home Loan Mortgage Corporation were charged with negligent conduct and, like the company, agreed to settle the case without admitting or denying the allegations.
The actions by Freddie Mac are cited by some economists as the beginning of the country’s economic meltdown.
The federal government this year was forced to take over Freddie Mac and a sister federal mortgage agency, Fannie Mae, pledging at least $200 billion in public funds.
Freddie Mac records have been subpoenaed by the Justice Department as part of its investigation of the suspect accounting procedures.
Emanuel was named to the Freddie Mac board by President Bill Clinton in 2000 and resigned his position when he ran for Congress in May, 2001.
During Emanuel’s time with Freddie Mac:
Freddie Mac was accused of illegally using corporate resources between 2000 and 2003 for 85 fundraisers that collected about $1.7 million for federal candidates. Much of the fundraising benefited members of the House Financial Services Committee, a panel whose decisions can affect Freddie Mac.
The fundraisers were organized by then-Freddie Mac lobbyists Robert Mitchell Delk and Clark Camper, who described them to the corporation’s board of directors as “political risk management,” the FEC said.
So on his first test, the neophyte Obama FAILED in the most basic of appointments. While I do think Emanuel will be good for ISRAEL and her fears of Obama (He was on the IDF I hear) It is completely unknown if he harbors the “Pro-Israel” mindset or does he think Israel should apologize for living.
I do know this much… IF your surgeon caused you to lose an arm during an operation, would you have him do the surgery on your leg next time? HELL NO You wouldn’t but this appointment makes sense to “The Chosen One”… :rollingeyes:
Rahm Emanuel was in charge of Freddie Mac, Freddie Mac was in large part the MAIN issue behind the economic collapse we are seeing now..
We are learning a lot about this “Rahm Emanuel” It has been said he has big brass balls, and he scares folks..Rumor has it when Tony Blair visited the WH when Bill Clinton and Monica scandal was in full bloom Emanuel told Blair “This is important don’t fuck it up” IF he said that to a sitting head of another country, that shows a complete lack of respect. While I am a fan of that style, I think all the people whining about the way Bush did things just saw a NO-CHANGE sign go up.
We are in the years of the ass… We are going to have to fight and scratch our way back to NORMALCY with in 2 years…. OUR NATION, OUR KIDS and OUR Values depend on US.
We can disrupt, confuse, and cause problems for the SOCIALISTS that have taken over our government. We need to be involved, and we need to be ON TOP of the agenda that is going to be forced on us.
IF you want to see how hard it is to remove a bad idea from our nation.. LOOK at CALIFORNIA, Prop 22 overturned and now prop 8 is being challenged. ONCE the claws are in, removing them is harder than preventing them.
We are going to see a “LIKE IT OR NOT” mentality like you have never seen before, and if you are not willing to fight for what’s right, you need to hide well.
We will soon see:
Gun Grabbing, Assault AMMO and weapons (AMMO FIRST)
Speech restrictions, UNLESS You agree with “THE ONE”
And several more SOCIALIST Government ideologies.
NOT TO MENTION: The Gay and lesbian agenda will be expanded. (Gay Marriage attempts in EVERY state, because the Chosen one will need the far left in his corner)