New Obama Chief of Staff was Director of Freddie Mac DURING Scandal
“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.”
In a statement to ABCNews.com, a spokesperson said Emanuel served on the board for “13 months-a relatively short period of time.”
The spokesperson said that while on the board, Emanuel “believed that Freddie Mac needed to address concerns raised by Congressional critics.”
Me thinks this would be a conflict of interest as he goes to work helping Obama “fix our troubled economy”, but somehow I doubt the press keeps such questions alive.
Except there is no record of that “concern”.
The reason Emanuel was brought on board was to insure that the affirmative action lending practices that he and his ilk oversaw, which caused this mess, continues. Obama has repeatedly stated that he intends to compensate blacks for slavery and he doesn’t think a one time payment is enough. It has to be an ongoing effort until Blacks are equal to whites and other races in income and every other way. It doesn’t matter that blacks consistantly score 15 points below other races on intelligence tests. Apparently Obama and those who support him think that giving more and more to these people is going to make the smarter. There is a large portion of that $700 billion out there that is about to be poured down the same rat hole all those other billions went down. Every program to distribute money for inner city development has ended up doling out “loans” that were never paid back. The doler in chief in our nearest large city doled out $100,000 to refurbish a rundown shack that belonged to her parents to be used as a story telling site, Then her sister in law’s newly organized 501(c)(3) got most of the rest of the federal grant money to “provide services” to minorities, whatever that means. After a scandal started by the local newspaper which (after much personal goading ), discovered that this project manager also used her business credit card for personal purchases. This all started when the newspaper learned that she had taken two people to lunch at the fanciest restaurant in town and her guests each ordered two extra lobster dinners to go. The total bill was over $500 for one lunch. So bend over all you dumb assed whities who voted for this clown. When he is finished, we will all be down and out because water will seek it’s own level, and those he is trying to bring up are going to drag the rest of us down. We have pushed them to the front of the line for nearly 50 years. Those who were capable have made it out of poverty and squalor. Those who are still wallowing in misery will never do any better.
It all begins with children and that is where we have squandered our benevolent wealth. If we went into these inner cities and removed these children from their “homes” where they are neglected, used, abused and left wallowing in the poverty of barely adiquate welfare…put them in homes, childrens homes and foster care (qualified foster care), educated them and supported their dreams, then sent in the troops to clean up those neighbor hoods and take back the slums and crack houses, built a fundamental infrastructure of affordable housing, progressive job training, industry and urban developement instead of lining the pockets of politicians we might have a different America today. This very thing is what is going on here the city of Anchorage. We have a 3 striikes and your are out rule where the parents loose their rights to the child. Its not a perfect system and no system could ever be perfected…but as a white child who grew up in an inner city, white trash, drug induced violent and neglectful atmosphere and was then subsequently rescued and sent to live in a clean, structured and nurturing environment…I can, as well as many of my peers who have gone on and written books, attest and witness to the fact that if any societial disfunction is to be overcome..it begins with the youth of a nation. We are loosing our youth to a broad spectrum of influence at either extreme from the wealthy materialistic, hip-hop, party til they drop, cellpone, credit card toting elitist sense of entitlement teenager to the other extreme of the 9 year old holding vigil over his younger siblings in a run down rat/roach infested apartment with no electricity and no food while mom’s out hookin’ for her next fix. The biggest difference between the two…one will grow old enough to be so indifferent that they don’t vote their conscience cuz they don’t have one and the other either won’t live long enough to vote or will end up in jail. The Obama’s, the Oprahs, The Will Smiths, the Brangilenas, the Beniffers nor the mainstream media as owned by Time/Warner, Microsoft or Disney won’t tell you how to fix it…why? Cuz like the UN…its better to just let them be mindless or dead such as with regard to aid and rescue efforts for the Darfurian crisis. It allieviates the problem with little or no effort and at no cost to them. What heals and what gives hope? A foundation of faith and morralty based benevolence which is what I and so many like me are a product of. To be snatched out of harms way, cleaned up, warmed, fed and told something useful on a daily basis…thats all these kids need. Why doesn’t anyone get that? Cuz it doesn’t sell…can’t make money off of common sense, care, concern and nurturing. Instead we make zombies who have sex, get implants, buy the latest technology, look cool and have the right image or we forget about them altogether and call them “unwilling to change”. The Bible says this about religion:
“James 1:27
Pure religion and undefiled before God and the Father is this, To visit the fatherless and widows in their affliction, and to keep himself unspotted from the world.” Seems pretty dang simple to me…
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