November 07, 2008

Rahm Emmanuel (D) Sat on Fannie-Freddie Board While They Cooked the Books

SO - where is that objective media to pile on here, providing oversight of the government that it doesn't provide itself, asking the tough questions of those in positions of authority and speaking truth to power?

Oh, I forgot. This is Obama's new Chief of Staff. Can't ask him anything. It would be "racist" or "dangerous" or "divisive." ABC News:

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.

Really? Well, where is the CNN/ABC/CBS/NBC/MSNBC prime-time, multi-day expose of this blatant corruption that was apparently just installed in a position of power in the incoming Hope-n-Change Administration? Which party and which politicians had a hand in this disaster, and which ones allowed it to happen, to fester and to continue unabated?

Look no further than members of the only party in power in Washington, and the Chief of Staff for Barack Obama (who took more campaign slush fund money from Fannie-Freddie than any Congressperson save Chris Dodd (D).

Inconvenient truths - three days after America voted these criminals in. Maybe some of our liberal commenters can explain to us all what Barack Obama's website (or "The Department of Change") says about this little inconvenient fact, because I was led to believe these sites contained all of the answers to life's questions.

Strangely, none of this information about his new Chief of Staff's role in the collapse of America's largest and most corrupt mortgage institutions appeared anywhere on either site.


By Good Lt. at November 7, 2008 09:40 AM | | l digg this