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Rahm Emanuel’s profitable stint at mortgage giant — chicagotribune.com — There are so many conflicts of interest in this administration you’d think they were all Republicans. Of course the New York media refuses to give this much attention lest they get cut out of those press conferences.
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.
One of those allegedly asleep-at-the-switch board members was Chicago’s Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.
As gatekeeper to Obama, Emanuel now plays a critical role in addressing the nation’s mortgage woes and fulfilling the administration’s pledge to impose responsibility on the financial world.
Found by Mike Cosmi.
R. Emanuel is bad news all the way around. BHO’s choice of Emanuel is the defining decision of his first 2 years and it is going to blow up on him eventually.
But don’t talk bad about Emanuel or you might get suicided–two shots to the head.
“There are so many conflicts of interest in this administration you’d think they were all Republicans.”
The problem is they’re all Chicago ward politicans. We’re still early in this administration. When people start digging around all sorts of Chicago s#@! will come up on Emanuel and Obama. You can’t operate in the places they did without being deep in it.
#16, joe,
And Mr. Fusion said Dean Baker is a hack wannabe.
I just love the way the right wing nuts have to come up with crap like this ad hominem as a way to attack Obama. They have no plans or platform. They have no budget proposal. They have no integrity.
Here we are in the “Dem’s always right, the other not” stoopid defense.
Sure, he’s a charitable soul, never taken a candy off a shelf. Hypocrites!
John C. Dvorak once mentioned on TWiT how he would never be on a board of Directors for fear of being sued, and being seen as culpable for things he would likely have no control over. I find it amusing that he would be making hay with this.
Is this not the equivalent of Al Gore being on the board at Apple during Apple’s backdating controversy?
And if you want to talk about conflicts of interest in an administration, look at the way Cheney led us into the war in Iraq, while formerly being the CEO of Halliburton. I find that case much more troubling.