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Emanuel Was Director Of Freddie Mac During Scandal

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.

See complete text at: http://www.abcnews.go.com/Blotter/story?id=6201900&page=1

Posted November 7th, 2008

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Thanks for reporting this.

Thanks for reporting this. We have had some similar reports, but never quite the same case.
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Here is additional

Here is additional information I posted on SF earlier today about how Emanuel is using loopholes and others slimy schemes to avoid paying any taxes on his $690,000 property in Chicago:

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How can it happen this way, don't know what these people are doing, when this kind of scandals could stop?
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I'm willing to give him the

I'm willing to give him the benefit of the doubt on this one. Virtually everyone in Washington is connected, indirectly or directly, to the financial crisis. If you rule them out, you've got nobody left.

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How people can believe

How people can believe these kind of persons who is on a higher positions, i cant believe that, i think not only Rahm Emanuel there are some people are involved in this scandal, thanks.

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Freddie Mac, known formally

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.
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Freddie Mac is the one

Freddie Mac is the one accountable with this issue.

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Rahm Emanuel sat on Freddie Mac board during scandal. ... Rahm Emanuel sat on the board of directors of Freddie Mac when the mortgage giant ...
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After working in investment

After working in investment banking, in 2002 Emanuel pursued the U.S. House seat in the 5th District of Illinois previously held by Rod Blagojevich, who chose not to run for re-election, but instead successfully ran for Governor of Illinois.

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Emanuel resigned from the

Emanuel resigned from the House on January 2, 2009 and began his current job on January 20, 2009, the day of Obama's inauguration.

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Well i don`t agree with you should very cautious of what you are saying ...but thanks for the sharing

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This guy Rahm Emanual is so

This guy Rahm Emanual is so crooked it's shocking that Obama has, well, the AUDACITY to even appoint him to such a high position.
Here is additional information I posted on SF earlier today about how Emanuel is using loopholes and others slimy schemes to avoid paying any taxes on his $690,000 property in Chicago:
Hmmm Non Profit org named after himself, where he is the only donor. THAT doesn't sound suspect...and yet nobody touches him.
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Well i don`t agree with you

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this guys looks like george clooney, lol

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I'm willing to give him the

I'm willing to give him the benefit of the doubt on this one. Virtually everyone in Washington is connected, indirectly or directly, to the financial crisis. If you rule them out, you've got nobody left.

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Emanuel

I think he has taken a big challenge, good luck to him!
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Nice blog with good

Nice blog with good information they are some people in each every field we have to be careful with these kind of people.

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I don't trust this man to be

I don't trust this man to be honest. But then again I am basing it on the statement above. I'm sure there are many different levels of fraud going on in the government at any one time. I would say to Mr Obama to do his best and watch this man doesn't do it again...or there will be hell to pay.
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Im not sure if this was the

Im not sure if this was the right decision by him to be brutally honest. He could have waited for a better time as there was no need to make such a decision there and then

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Everyone has an opinion on

Everyone has an opinion on the recession but the middle class aren't the reason maybe if we raised taxes for the rich and lowered it for the middle class got rid of illegals taking jobs we could start to help our economy, or maybe pull the troops out of the war and spend a few trillion fixing up our own country.

Thanks

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