Rahm Emmanuel, Freddie Mac board member, $ 320,000

http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story

The beat goes on IN ObamaNation. Emmanuel is Obama's Rove. He and David Axelrod run the country, while Obama goes on TV with his Teleprompter and plays President.

This is simply outrageous.

Fannie and Freddie were stuffed full of Democratic movers and shakers raking in tens of millions of dollars (Jim Johnson, Jamie Gorelick, Franklin Raines) to name a few, while politicians like Dodd, Frank and Obama raked in the donations and protected them from scrutiny, accountability and change.

WHY ARE THESE CROOKS IN STILL IN POSITIONS OF POWER (NOTABLY DODD AND FRANK).

AND NOW RAHM EMMANUEL.

Oh yeah, this must be all George Bush's fault and a crisis that was "inherited".

As if Congressman Emmanuel and Frank, and Senators Dodd and Obama, had nothing to do with it.

A brief excerpt:

Because of Freddie Mac's federal charter, the board in Emanuel's day was a hybrid of directors elected by shareholders and those appointed by the president.

In his final year in office, Clinton tapped three close pals: Emanuel, Washington lobbyist and golfing partner James Free, and Harold Ickes, a former White House aide instrumental in securing the election of Hillary Clinton to the U.S. Senate. Free's appointment was good for four months, and Ickes' only three months.

Falcon, director of the Office of Federal Housing Enterprise Oversight, found that presidential appointees played no "meaningful role" in overseeing the company and recommended that their positions be eliminated.

John Coffee, a law professor and expert on corporate governance at Columbia University, said the financial crisis at Freddie Mac was years in the making and fueled by chronically weak oversight by the firm's directors. The presence of presidential appointees on the board didn't help, he added.

"You know there was a patronage system and these people were only going to serve a short time," Coffee said. "That's why [they] get the stock upfront."