
… as long as you’re a Democrat:
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.”
Maybe next he’ll appoint Barney Frank to Treasury.
(Via Jammie)
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You forget that Freddie Mac and Fannie Mae served their purpose perfectly (and no, I am not going to say that is sarcasm).
If Barney’s not from Chicago, don’t count on it.
Let’s see… 72 hours after the guy who is for change , the ” unifier ” is elected and the first thing he does is to appoint a chicago thug to be his chief of staff. Holds a news conference on financial matters and after 30 minutes eloquently saying nothing he confirms he is an empty suit. The funniest thing about the economic summit is than The La mayor and the gov of Michigan are “advisors”. Both are presiding over bankrupt city and state. He then proceeds to insult Nancy Reagan and apologized to her within hours.
In the west coast the gays are calling blacks the N word. There is word of John Kerry (the hauty one and stupid one) as secretary of state. Then there is Pelosi printing money to pay the unions at the big three and she is just getting started. Soon she’ll be printing more money for the student loan bailout,credit card bailout etc. Dodd gave an interview today and he looked distressed . He then said maybe we should wait to see if what we’ve done works. Good luck with reigning in Nancy.
Today I went to my supermarket and I was smiling as I went in. One of the cashiers runs to me and asks me if I was so happy because Obama was elected. Then one my way out all the cashiers were discussing how much money they were going to get from the Obama tax cut.
What a week!!! I can’t wait for Monday.