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Rahm earned $320,000/14-months at Freddie Mac

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Posted

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

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.

Emanuel's Freddie Mac involvement has been a prominent point on his political résumé, and his healthy payday from the firm has been no secret either. What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation's current economic mess.

And now he's chief of staff to Obama....this would be like George W. Bush hiring Jeff Skilling as his chief of staff.

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Posted

Wow, he got paid that little????

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Yeah, that's about 275K per year. Borderline upper middle class in the high cost of living areas in this country.

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Yeah, that's about 275K per year. Borderline upper middle class in the high cost of living areas in this country.

I'm sure that was the only job he was doing at the time...

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And now he's chief of staff to Obama....this would be like George W. Bush hiring Jeff Skilling as his chief of staff.

enron to freddie mac eh?

not even trying to maintain any semblance of sanity anymore, are you?

please claim that freddie mac caused the crisis next so I can destroy that argument as well. i've got the post almost alllllll lined up

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I'm sure that was the only job he was doing at the time...

So now we are assuming???

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So now we are assuming???

welcome to the republican party

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welcome to the republican & democrate parties

fixed

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fixed

the republican attack machine and narrative control mechanism is so finely honed and better than the democratic version (of which there might as well not be one at all) that comparing the two is disingenuous.

there are reasons people still think the stimulus was full of pork, or that anything obama is doing is socialist, or that he's about to institute republican pogroms, or that he's demolishing middle america.

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enron to freddie mac eh?

not even trying to maintain any semblance of sanity anymore, are you?

please claim that freddie mac caused the crisis next so I can destroy that argument as well. i've got the post almost alllllll lined up

In the grand scheme of things...Enron was a molehill compared to the mortgage crisis.

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In the grand scheme of things...Enron was a molehill compared to the mortgage crisis.

congratulations that still doesn't address the awful comparison you made in your first post

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congratulations that still doesn't address the awful comparison you made in your first post

I'm just writing in in DailyKos speak for you Obama bowlers.

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