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Emanuel 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.

See complete text at: http://www.abcnews.go.com/Blotter/story?id=6201900&page=1

Posted November 7th, 2008

Obama has made some right

Obama has made some right decisions so far, but perhaps appointing Rahm was Obama's first mistake in power?roulette online poker sites blackjack online video poker online movie downloads horse race betting iphone wallpapers

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