Wednesday, May 05, 2010
Rahm Emanuel worked in the Clinton White House as well, serving as a senior advisor until 1998. He then took a position as an investment banker, earning 16.2 million dollars in bonuses between 1998 and 2002. In 2000 and 2001, he served on the board on Freddie Mac, another government sponsored enterprise that serves a market maker for mortgages, earning $320,000 in bonuses. Financial and accounting irregularities at Freddie Mac, and Gorelick's old employer, Fannie Mae, subsequently played a prominent role in the meltdown in global financial markets in 2007 and 2008, necessitating an enormous bailout, a bailout that is ongoing and without limitation.
White House Chief of Staff Rahm Emanuel, the kind of person you end up relying upon to look out for you as a consequence of your participation in the US electoral system.
The amendment to Audit the Fed comes up for a vote later today. The WSJ reports that Rahm Emanuel is whipping against it, and Bernie Sanders office says that it may need 60 votes to pass.