Chicago Daily Observer

IT WASN‘T so long ago—last September, to be specific—that a senator with a particular interest in campaign finance reform introduced a bill to provide important transparency in presidential campaigns. The measure, S. 2030, would require presidential campaigns to report the names of fundraisers who bring in “bundles” of individual contributions totaling $50,000 or more. The campaigns would have to report the occupations of the bundlers and the specific amounts they are credited with raising. This was a terrific idea. It’s too bad that the bill’s sponsor, Barack Obama, is failing to follow the rules he set out.

With the Fannie and Freddie in the news.It’s important to look at how the GSE‘s lobbied Congress to build their dishonest balance sheets.NPR has a list of the politically connected that made it to the GSE boards.Before coming to Congress,Rahm Emanuel was a Freddie Mac board member.This means Rahm Emanuel has some explaining to do.The Chicago Sun-Times reported on Rahm Emanuel’s background :

Escapes controversy during impeachment. Leaves White House in 1998, never having to hire a lawyer. Clinton loyalist.

Chicago: Returns to Ravenswood, makes millions as an investment banker in a few deals; tapped by Clinton for a plum spot on Freddie Mac board; Daley appointee on CHA board. Wins House seat in 2002 with help of Daley Machine. Daley loyalist.

Here’s Rahm Emanuel promoting housing in front of a Congressional hearing,after he left Freddie Mac.What did Congressman Emanuel how about Freddie Mac’s balance sheet? What ... Read More...