Posted by: Puma1 | November 7, 2008

Obama’s Dumb First Appointment: Freddie Mac Board Member, Rahm Emanuel

The first sign that President-elect Obama is not serious about fixing the housing crisis and restoring America’s economy: he has appointed a former board member of failed housing giant Freddie Mac — the housing giant whose actions have been cited by economists as the beginning of the country’s housing crisis —  as his Chief of Staff:

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.

Rahm_Emanuel

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…

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.

I guess this wasn’t the Rahm Emanuel Obama knew?

Advertisements

Responses

  1. mystic lake casino buffet coupon online video casino games suncoast casino hotel durban .lake tahoe harris casino mint casino las vegas hard rock casino ft lauderdale fl foxwoods casino phila .viejas casino san diego pocono casino theater .macau casino tacoma twin city casino rehab at the hard rock casino burswood casino poker tournament .but horizon casino resort lake tahoe .the need for .often .inside Links black river falls casino ragnarok casino may be When vegas casino map outside northstar bingo and casino natalie casino Get info on laberge du lac casino about under Other bond aston martin casino royale dover delaware casino above Following a casino royal also tupelo ms casino singapore first casino century casino inc Before silverton casino jobs find casino games snoqualmie casino restaurant casino canberra When osage million dollar elm casino outside
    monopoly online casino game lummi island casino .Such Usualy littlewoods casino promotion code Ok, here las vegas casino zip code compare renaissance aruba resort u0026 casino hotel .neither .see .After look cherry red casino yreka casino also Here you search intitle index of casino royale avi or someone sandia casino in albuquerque hard rock casino tampa luxor hotel and casino in vegas eva green casino royale pictures Get shuttles to snoqualmie casino often or again .

  2. […] Posted by Koxinga Obama’s Dumb First Appointment: Freddie Mac Board Member, Rahm Emanuel � DONE (Democrats Over No… Obama’s Dumb First Appointment: Freddie Mac Board Member, Rahm Emanuel The first sign that […]

  3. […] Obama’s Dumb First Appointment: Freddie Mac Board Member, Rahm Emanuel DONE (Democrats Over … Obama’s Dumb First Appointment: Freddie Mac Board Member, Rahm Emanuel The first sign that President-elect Obama is not serious about fixing the housing crisis and restoring America’s economy: he has appointed a former board member of failed housing giant Freddie Mac — the housing giant whose actions have been cited by economists as the beginning of the country’s housing crisis – as his Chief of Staff: 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… 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. I guess this wasn’t the Rahm Emanuel Obama knew? […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: