April 6, 2009
Bet this is another thing barry was "stunned" to learn. Why isn't anyone going after barry and his Cabinet about the financial crisis and their role in it? What is it going to take?
Rahm Emanuel straight from wiki. I'm not going to bother looking around for more info. This is enough.
After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration and became an investment banker at Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002. In 1999, he became a managing director at the firm’s Chicago office. Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures. At Wasserstein Perella, he worked on eight deals, including the acquisition by Commonwealth Edison of Peco Energy and the purchase by GTCR Golder Rauner of the SecurityLink home security unit from SBC Communications.
Axelrod is a lobbyist for ComEd but in Illinois he doesn't have to register. barry pal, Bill Ayers' dad was CEO of ComEd. Frank Clark is the present chairman and CEO of ComEd, (part of Chicago-based Exelon Corp) and raised $200K besides a personal donation of $2K. Exelon employees donated $247,413 for presidential race and $270K for his state senate campaign.
Emanuel was named to the Board of Directors for the Federal Home Loan Mortgage Corporation ("Freddie Mac") by then President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales. He was not assigned to any of the board's working committees, and the Board met no more than six times per year.
Keep this in mind the next time you hear him talking about the economy, foreclosures and Wall Street and bankers' greed.
During his time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities. The Obama Administration rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director.
How convenient. Another example of barry's transparency.
The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board of having "failed in its duty to follow up on matters brought to its attention." Emanuel resigned from the board in 2001 when he ran for Congress.
The damage was already done.
In January, 2003 he was named to the Financial Services Committee, and sat on the subcommittee that oversaw Freddie Mac. A few months later, Freddie Mac Chief Executive Officer Leland Brendsel was forced out, and the committee and subcommittee commenced hearings lasting for more than a year. Emanuel skipped every hearing allegedly for reasons of avoiding any appearance of favoritism, impropriety, or conflict of interest.
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