Thursday, March 26, 2009

Rahm "Never Waste a Crisis" Emmanuel help create the economic crisis?


I'll take the conspiracy theory another step further from where Hotair took it today.

The Chicago Tribune reports on how well Freddie Mac board member Rahm Emmanuel made out while plunging America into today's economic crisis.

During his tenure as a board member:

Freddie Mac hatched an illegal accounting scam that fudged numbers in order to pay its high ranking employees million dollar bonuses. Think Enron, only on a much higher level and ignored by the left-wing mainstream media.

"Many of those same risky investment practices tied to the accounting scandal eventually brought the firm to the brink of insolvency and led to its seizure last year by the Bush administration, which pledged to inject up to $100 billion in new capital to keep the firm afloat. The Obama administration has doubled that commitment."

"(T)he company hatched a plan to enhance its political muscle. That scheme, also reviewed by the board, led to a record $3.8 million fine from the Federal Election Commission for illegally using corporate resources to host fundraisers for politicians. Emanuel was the beneficiary of one of those parties after he left the board and ran in 2002 for a seat in Congress from the North Side of Chicago." Basically, he was a board member approving illegal campaign contributions to himself.

Must be nice being a liberal insider. You get a sweet paying job when you're in between positions of power on the American Taxpayer, then destroy the company to make millions in bonuses for you and your friends, the government bails out the company and you become White House Chief of Staff. Sweet.

Now, here's the kicker, he gets to use the financial crisis that he helped create to jam through The Chosen One's socialist agenda! Never waste a crisis!


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