ABC’s Brian Ross: Rahm Emanuel Was Director of Freddie Mac!
Gee, with all that money Obama got from Fannie & Freddie, who would have seen this coming?
BTW – There are some interesting revelations about Obama that are about to come out in the MSM. Obviously, they are trying to “clear their conscience:”
Truth Leaks Begin: Emanuel Was Director of Freddie Mac
By Noel Sheppard
November 7, 2008
NewsBusters
Now that Barack Obama has won his bid for the White House, Americans should get ready to learn some inconvenient truths about him and the folks surrounding the president-elect that media have safely hidden from the public in order to promote his messiah-like image.
First out of the gate were revelations about Rep. Rahm Emanuel (D-Ill.), the Obama supporter and Congressional Democratic Caucus chairman Obama has tapped to be his Chief of Staff (please see my colleague Jeff Poor’s November 6 report on this subject).
On Friday, ABC’s Brian Ross reported that Emanuel was on the Board of Directors of the failed financial institution Freddie Mac, a nice little tidbit conservatives on radio and in the blogosphere felt was important during this campaign, but for the most part mainstream media outlets didn’t care about…conveniently until now:
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.
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.” [...]
The actions by Freddie Mac are cited by some economists as the beginning of the country’s economic meltdown.
The federal government this year was forced to take over Freddie Mac and a sister federal mortgage agency, Fannie Mae, pledging at least $200 billion in public funds. [...]
During the years 2000, 2001 and 2002, according to the SEC, Freddie Mac substantially misrepresented its income to “present investors with the image of a company that would continue to generate predictable and growing earnings.”
Hmmm. So, “The actions by Freddie Mac are cited by some economists as the beginning of the country’s economic meltdown.” And “Freddie Mac substantially misrepresented its income to ‘present investors with the image of a company that would continue to generate predictable and growing earnings’” while Rahm Emanuel, a leading figure in the Democrat Party who’s supported Obama throughout his presidential campaign, was on the Board of Directors.
And this is suddenly newsworthy NOW?
Hmmm. Maybe next media members will report how Obama was the second-leading political recipient of Fannie Mae and Freddie Mac contributions since 1989 even though he’s only been in Congress since 2005.
After all, now such a revelation won’t hurt him, although it certainly would have if fully disclosed by Obama-loving press members as the financial crisis came to a head in mid-September.
Just imagine how differently things might have gone Tuesday if voters would have been completely apprised of Obama and his surrogate’s connections to the government sponsored enterprises so responsible for the collapse of the banking and lending industries.
As readers are likely aware, NewsBusters has for months made the case that if Americans knew just how tied to this crisis Democrats were, McCain would have easily won the White House, and the picture in both chambers of Congress would also be much different.
Alas, the media were having none of that, and nicely hid the truth from a public mysteriously not interested in it anyway.
In the end, it seems a metaphysical certitude that in the months to come, America’s disgraceful media will begin to report things about Obama and his team that could have had a HUGE impact on the campaign if revealed months ago.
I guess this is their way of soothing their guilty consciences, assuming any of these folks possess such a thing.
—Noel Sheppard is the Associate Editor of NewsBusters.
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7 November, 2008 at 9:48 am
The media trying to clear its conscience? Not possible-it lacks a conscience. That’s how we got stuck with Obama (MCF) and this Cretin Rehabilitation Program that will staff his government. The worse the cretin, the higher he will go.
At best I expect the Dear Leader to staff his administration with untalented mediocrities. At worst, I expect full blown wreckers of the far Left to implant themselves in the government.
7 November, 2008 at 9:50 am
Appalled,
Not possible-it lacks a conscience
That’s why I used the quotes.
Cheers
7 November, 2008 at 9:52 am
Oops-I missed that!
By the way, I believe that today is the 91st anniversary of the founding of the USSR. A pity today wasn’t election day-it would have been so fitting.
7 November, 2008 at 11:34 am
They, the media, have been lying to us for years and this time around they went in to hyper-mode with their bs and now they want to restore their reputations? No way fellas, this is the end, you may get your credibility back in a generation or two with some people but now with me. That’s if you are still around after you have lied about just about everything everything. You see reporters, the islamists are serious about what they say but to you it was Bush. People will die because of your lies and I hope it is you that pays the price not some random Americans. Hey islamists, do you want to know who has contributed to this massive evil in the world, you care to find out who the great satan really is who are the real anti religionists out there, it’s the media, now think about that and do whatever you think is necessary. I will assure you I don’t care as long as you contain your attacks to the great satan. Who knows, maybe after they are gone we might be able to come to some kind of an agreement regarding this religious war we are in. Who is a bigger threat to my rights, the islamists or the media, I’m really not sure anymore but at least the islamists are up front about what they are and have been doing.
7 November, 2008 at 12:00 pm
Rahm Emanuel, Chief of :
S ocialism
T yranny
A ggression
F inancial
F raud
7 November, 2008 at 12:09 pm
Hey Doc, OT, have you seen this? Lefties all of a sudden love the flag. The media, the democrats, the movie and music industry and the left in general have set the bar for future president’s criticism and it has been set real low. Will I stoop to their level, no. will I do whatever I feel is appropriate in each situation, yes. I don’t want these rats anywhere near me, I have already written my congressman regarding the democrats the flag and the draft, yes lefties I know nothing frightens you more than thinking you will be forced to serve under that flag. Anyway my point to him was, I don’t want draftees, exclusively leftists, around volunteer units. I want them segregated, give them every dirty job that comes down the pike I don’t care as long as they are kept away from our great volunteers, we cant afford to slime our very successful military with leftists they just aren’t reliable. You asked for it lefties and guess what you are going to get it down the road, cry to your leaders if you must but somehow I doubt they will care. You are there as cannon fodder for your leaders, do your damn job.
7 November, 2008 at 12:28 pm
This was clear before the election and no one cared ……
7 November, 2008 at 12:41 pm
tgusa,
Yeah, I saw that yesterday.
However, No Compromises has a VERY different story CLICK HERE
Cheers
7 November, 2008 at 12:59 pm
Yes I saw that yesterday and I agree. These zombies have no idea what is going to happen to them just like with fannie mac before during and after they will have no clue what through their traitorous efforts they have sown. Their monstrous treatment of President Bush, whether you like him or not it has been beyond disgraceful. Conservatives have for some time now been protesting the direction of the socialists democrats with their wallets and it is starting to show up in the economy. Obama supporters don’t drive the economy, getting the indigent, homeless and ignorant, hapless and helpless vote does not help the country in any way. The dems are just as stupid as they were when they began the FM debacle, maybe ever more, Obama is creating a 1992 administration in a post 9-11 world. As I have said they are unable to get a handle on reality this is going to be ugly.
7 November, 2008 at 1:13 pm
Ya know Doc I was around during LBJ I never treated him nor Carter nor Clinton like Bush has been treated even though they gave me plenty of reasons. But the more I reflect the more I realize that they did this to Reagan, they did it to Nixon they treated Ford with contempt and they probably did it to Ike as well. I mean Nixon was what he was but in comparison to todays democrat party Nixon is a cub scout. They will never change this is what they are, never forget we cannot let them lull us in to believing they are any different now than they ever have been.
7 November, 2008 at 3:00 pm
I gratefuly look across my stree to a resident who daily flies a large American flag and a black flag designating with white letters “POW”. I don’t think anyone dares ome into oour Senior Mobile Home Park and throw it into bushes. I fly mine often as well on special days. It has always given me pride, and I cry when the colors pass by in a parade. Let’s pray the American flag may always be lifted high in a parade.
tgusa:
I’m sure you’re from my generation. We were brought up showing respect for our flag and the “Star Spangled Banner” anthem. And we taught those values to our kids.
8 November, 2008 at 4:04 am
Same generation, yes we are notalldum, respect the flag you bet. In my neighborhood you will find American flags of all kinds, just down the street I have an old Marine drill sgt. that fly’s the flag mounted on a flagpole not unlike you would find on a military base. I look out my window and in the distance is a gigantic flag that fly’s over our shopping center. I grew up in an area that was smack-dab in the middle of the glide path of the local marine base fighter jets. I still to this day find it hard to sleep not hearing them rev their engines at night tied down at hi power. Most of the dads in my neighborhood were in Vietnam in those days we had both a MCAS/fighter and helicopter base in my small section of the county. Yes I walked door to door offering the POW/MIA bracelets I know that black flag well. Heck I just about break up every time I try to tell someone about the exploits of our brave men throughout our history. I am a descendant of one who fought under Gen. Nathanial Greene during the revolution, Kings Mountain among other places, now there was an all-around American man for ya. Both sides of my family fought each other to the death at Gettysburg both survived. I last year buried our old Marine at Riverside veterans cemetery He was a WWII pacific theatre fighter pilot/squadron leader I will miss him dearly. As you can tell I love to brag about them, remind me sometime to weed through my old paperwork about my relative that lost his leg at Gettysburg fighting for the south the 21st Mississippi infantry regiment. A poem was written about him after his death it focused on how he lost his leg but that could not break his spirit. I attribute to him a lot of what I am if he can endure there is no reason in this day and age that others couldn’t, I believe it is a great example for those of ours that come back horribly injured today, Take heart great American servicemen its not how you come back its what you do with it. I love them all more than anything else in the world. My personal military hero, the recently deceased John Ripley, it has been told that as he swung across that bridge all alone he thought to himself, geez, if my wife knew what I was doing, she’d kill me!
8 November, 2008 at 4:58 am
Did you know that Kings Mountain was American against Traitor American, turned the tide toward American victory, that there would only have been ten colonies without the Americans that were willing to go all the way there where ever it led them? Been there done that, twice now, maybe going on three times in the future. Who will win, it’s a mystery, or maybe not. Think about it islamists, these are the people that you face, lotsa luck.
8 November, 2008 at 3:29 pm
tgusa:
Next door neighbor had regular flag pole right in front of mobile home, but after he passed awy, his wife had it removed. Not sure I’ve seen her put a flag out since. Can tell those who still have patriotism. Love seeing flags waving in the breeze as I walk to get my mail or take my doggie for his walk. Long may she wave!
In WWII, my first husband died in Germany, my brother fought in Anzio, an older cousin, Captain in Army, was in Pearl Harbor when Japanese attacked, and his wife and others picked up body parts on beaches to put into barrels of formaldahyde, many cousins in army and navy, as well as my eldest nephews who were in the Pacific in the Navy. One nephew retired after 20 years, buried in the Riverside Veterans Cemetery you mentioned, tgusa. Numerous school mates and friends fought, and some died. Don’t know of ancestors in wars you mentioned, but my Daddy was in Marines 1909-1912 ( I was born late in parent’s lives).
I know we are not alone in having pride and memories and family and friends in the wars. Many other stories out there by many patriotic and loyal Americans. My prayer is that the younger generations step forth and join those who are fighting today for our country because of their personal pride and loyalty to America. Those who have had so much freedom before may not know it soon if they aren’t willing to fight for it. “nuff said.
WILL NOT FLY the hammer and sicle nor the red star.