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Rahm Emanuel's profitable stint at mortgage giant
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.One of those allegedly asleep-at-the-switch board members was Chicago's Rahm Emanuel--now chief of staff to President Barack Obama--who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort. As gatekeeper to Obama, Emanuel now plays a critical role in addressing the nation's mortgage woes and fulfilling the administration's pledge to impose responsibility on the financial world. Posted by: Fred 2009-03-27 |
| http://www.rantburg.com/poparticle.php?ID=266169 |