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Revelations are coming out about Rahm Emanuel, the man Obama tapped to be his Chief of Staff. Apparently Emanuel was on the Board of Directors of Freddie Mac when the failed institution was in trouble and the board did not spot "red flags." See NewsBusters for more on this. Further, ABC News says that:
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." [...]
This means that Emanuel, as a member of the board, either had a hand in the fraud committed at Freddie Mac, or at the least knew about it and did nothing. This is a revealing piece of information about someone who is going to be the White House Chief of Staff for Barack Obama. I suppose the Chicago politicians have to stick together.
Of course, we already know that Obama is one of the top recipients of Fannie Mae and Freddie Mac campaign contributions, receiving $126,349 from those institutions, second only to Christopher Dodd (D) of Connecticut, but this is certainly nothing that you heard about from the mainstream media. I would be surprised if you heard that little tidbit from them now.
On an interesting side note, I watching an TV not sure which channel but it was a 2005 "Roast" of Rahm Emanuel. The speaker just happened to be Hillary Clinton. Even though the nature of her speech was humorous, the revelations were not. Among other things I learned that Rahm Emanuel was to be "feared" and that he loves his profanity, about every 4th word is a profanity for Obama's chief of staff. Additionally he seems to rub almost everyone the wrong way.
So we know he is tough willing to strong arm to get what he wants, connected to a corrupt Freddie Mac, is abrasive and can't seem to communicate without using profanity and insists on playing to the middle.
Isn't that what Obama did to win? Play to the middle, hide his true agenda,play to fears on the economy and establish himself as the Pied Piper of Change & Hope. Along with a huge war chest and a little help from his friends in the media.
Welcome to the "new socialists" White House