This story from theChicago Tribune details The very profitable 14 month stint of President Obama's chief of staff at Freddie Mac. (He netted over $320,000 in 14 months.)
http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story?page=1
While other directors had responsibilities on board committees, Mr. Emanuel did not. They met no more than six times per year. During his "service" on the board, the board was made aware of accounting tricks used to push income out to future years (misleading shareholders, and making the company seem profitable for years to come ... while ensuring the large bonuses for management.) They also were presented a "political risk assessment" that outlined a plan to mute calls for increased governmental oversight. Emanuel also received financial support (often from legally prohibited company campaign activities) after leaving the board.
In Congress, Emanuel served on the Financial Services Committee, and sat on a sub-committee that directly oversaw Freddie Mac. At least that failed organization can claim that in this instance, they got what they paid for!
The Obama administration (which promised us transparency and openness) rejected a freedom of information act request for board minutes and e-mails (a lawyer for the Federal Housing Finance Agency ruled they amounted to "commercial information" exempt from disclosure.
The Obama administration is living up to their commitment to set a new standard for ethics ... a new low. Tax cheats, political insiders, and lobbyists have all been welcomed with open arms.
We were promised better than this. We deserve better than this. We can hold these "public servants" accountable for their votes, misdeeds, and broken commitments. Vote for REAL change!
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Grrrr! I was pondering Obama's "Change" slogan just before I read this. We see the result of believing someones' carte blanche politics (poly=many; ticks=blood-sucking insects). What can we expect from them? Obama's rise to political power was managed by corrupt Chicago "poly-ticks" and he owes so many debts to them that he does not dare disappoint his upline - and his handlers. As long as he continues to obey them, reads the scripts passably well, and keeps the voters "snowed", he believes all is well. It is not. Those who are still sane must make our voices heard.
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