The real issue at hand is this: Rahm Emanuel is attempting to create an $800 billion slush fund

[FLAprogressive]

for Fannie Mae and Freddie Mac, allowing them to buy more toxic assets from bank with no oversight or congressional approval.

Rahm has some "interesting" ties to Fannie and Freddie....

http://politics.theatlantic.com/2009/12/odd_couple_of_norquist_hamsher_call_for_investigation_rahms_resignation.php

This is not about Jane Hamsher, although certain people here have done a masterful job at making it so. Ignore and distract people from the message while attacking the messenger....go team.

[ProSense]

1. Sincerely,

Jane Hamsher
Firedoglake.com


Grover Norquist
Americans for Tax Reform


Hamsher is the new Orly Taitz.


What a clusterfuck.

[FLAprogressive]

2. Distract from the issue at hand by attacking the messengers.

[ProSense]

4. What issue? n/t

[FLAprogressive]

5. Rahm is trying to give Fannie and Freddie $800 billion with NO congressional oversight

[ProSense]

8. This:

...while Emanuel was there, Freddie Mac's board was encouraged to misstate earnings and that Emanuel benefited from a Freddie Mac fundraiser after he left the board to run for Congress...

She's digging up something from before 2003? Jane is becoming as desperate as the RW, no wonder she needs them.

[WeDidIt]

10. She isn't even digging up shit

she's making shit up, like the Birthers.

She's Orly Taitz redux only over Freddie Mac.

[AllentownJake]

13. Do you have evidence she's making shit up

I'd like to see that OP. Till than, this should be followed.

Barack Obama's birth Certificate is on-line. If this is false it will die in a few days.

[ProSense]

15. That's OK

She'll end up right where Orly did, looking like a delusional idiot, and her supporters will find some excuse to say she's being persecuted. She's a bitter delusional idiot.

[AllentownJake]

16. If she's lying about Rahm she should be derided for doing so

She's put her rep on the line. This is proven to be a lie, I won't support her postings on here anymore.

[FLAprogressive]

18. As someone else said -- who do you trust more, Jane or Corporate Rahm Emanuel?

What motivation does Jane have to lie about Corporate Rahm???

[WeDidIt]

25. HAHAHAHA

"What motivation does Orly have to lie about Obama."

Her faithful even sound like the faithful of Orly Taitz.

HAHAHAHAHAHA!

[FLAprogressive]

33. Keep going.....your false comparisons of faked birth certificates to a legitmate issue are

astoundingly laughable.

[WeDidIt]

35. There is ZERO evidence for Hamsher's claims

just like there is ZERO evidence for Taitz' claims.

It's identical paranoid conspiracy theory bullshit.

[Jane Austin]

57. removed by author

[geek tragedy]

66. I trust Rahm over someone an ally of the Teabaggers and Grover Norquist.

Seriously, Grover Norquist Democrats are lower than Lieberdems.

[ProSense]

22. " If "?

It's hard to believe anyone is buying into her constant distortions and bullshit.

[FLAprogressive]

23. If she's lying, prove it.

[ProSense]

34. I don't have to prove made up shit is made up.

Believe her if you want to. She's the one who has to prove that it's true. I can't wait for Holder's response.

[AllentownJake]

27. Like I never campaigned on a Public Option

When I have literature in my garage talking about a public health plan.

If there is evidence, it will be produced and substantiated, if there is not, her articles should be banned from DU.

[FLAprogressive]

29. They have no proof that she is lying.

[WeDidIt]

38. She has no proof of her claims.

Only paranoid innuendo.

Nothing more.

[WeDidIt]

31. Only this

She has no evidence for her claims, and makes some really bizarre assed conspiracy theory bullshit assertions with NOTHING to back it up.

Just like Orly Taitz.

[AllentownJake]

39. If no evidence is produced to back up her claims

The assertions should be banned from DU and so should her postings. I think I'm being rather logical. If she is proven to be lying, I will sign any petition or email Skinner to ban her crticisms from DU.

[FLAprogressive]

41. read the article.

[WeDidIt]

47. I've read it

It's the same bullshit Orly Taitz pulls.

[WeDidIt]

45. And she is the one who has made the assertions

so she is the one under the burden of proof.

But watch, you'll get innuendo, rantings, illogical conclusions from incomplete data, and nothing more.

[AllentownJake]

49. Correct and Watergate started with allegations as well

If there is a there, there it will come out. If not Jane obviously is no longer a credible source and her blog postings should be banned from DU.

[WeDidIt]

52. Well, let's see, since this shit has been floated about Rahm Emmanuel for the past six years

I'd say if there was a there there, it would have come out by now. The Chicago Tribune was all over this shit and nothing ever came of it.

Thinking Jane Hamsher and Grover Norquist will magically come up with something on this is akin to thinking that Orly Taitz and Phil Berg will magically produce a document where Obama renounced his US citizenship.

[AllentownJake]

53. Hey you got my support for banning her postings from DU if no evidence is produced

I think you should bookmark and let it go.

[Hannah Bell]

69. this:

The New York Times reports that the administration is negotiating to double the commitments to Fannie and Freddie for a total of $800 billion by December 31, in order to avoid the congressional approval that would be needed after that date. But there currently is no Inspector General exercising independent oversight of these entities. Acting Inspector General Ed Kelly was stripped of his authority earlier this year by the Justice Department, relying on a loophole in a bill Mr. Emanuel cosponsored and pushed through Congress shortly before he left for the White House. This effectively ended Mr. Kelly's investigation into what happened at Fannie and Freddie.

Since that time, despite multiple warnings by Congress that having no independent Inspector General for a federal agency that oversees $6 trillion in mortgages is a serious oversight, the White House has not appointed one.

[nashville_brook]

73. ProSense: Hamsher = Taitz ........ ProSense = most ironic screen name ever

[WeDidIt]

3. The answer is no.

All I need to see is HAmsher teaming up with Norquist to know this is akin to Phil Berg teaming up with Andy Martin.

[ipaint]

6. In other words...

la la la la la...I can't hear you...la la la la la

[WeDidIt]

7. I can hear it

and it has as much veracity as Birther bullshit.

[ipaint]

12. 800 billion dollars in taxpayer money is about to disappear and

you think that's comparable to an obviously bogus claim about a very verifiable birth certificate.

Good to see you have your priorities straight.

[FLAprogressive]

24. They're already comparing her to Nazis....

[WeDidIt]

42. Absolutely

There's not a shred of evidence of wrongdoing by Emmanuel, but that isn't stopping Hamsher from going off on paranoid rants about it.

It's an identical scenario to the Birther bullshit. Made up claims, innuendo, sketchy conclusions from incomplete data, and an underlying hatred for the target.

[Donnachaidh]

19. Karl Rove would be so proud of you *party members*

Jackals run in packs and there seems to be about 6 hardcore members of this pack that wants to shriek and shout and blow smoke so discussion cannot happen.

Pack mentality -- learned it from the pukes, huh?

[FLAprogressive]

21. 6 hardcore members and about 12 usernames :)

[WeDidIt]

28. HAHAHAHAH!

You're even slamming fellow rational DUers like the Birther Freepers slam the more rational Freepers who don't buy into the Orly Taitz Birther bullshit!

[ipaint]

9. Thanks for posting this.

I wanted to get more info on exactly how he is attempting to pull this latest heist of taxpayer wealth off.

[glitch]

17. +800,000,000 nt

[jgraz]

32. Sorry, not enough zeros. It's 800,000,000,000.00

Rahmsfeld is going to be the death of a second term.

[glitch]

46. Damn, you're right. What was I thinking, reading millions. Small potatoes for the new game in town.

I suppose I should be grateful it didn't quite reach a trillion, yet.

[Junkdrawer]

11. Agreed. n/t

[sam sarrha]

14. NOT TOXIC AT ALL...they just have an unknown value like our house, devalued 20K=13%, up now to 6%

they will evict us for say -$2000-4000 behind, costing them $50,000. and making the "Bundle" the deed is in a toxic asset. but nothing has changed. our little house is a most minor element in the greater picture of the bundle... but now its toxic.

the people who fix these things make about $20,000,000 pr bundle.. just consolidating a few foreclosures out of several bundles.

there isn't anything sleazy about it, it will stabilize the economy.. should have been the first thing they did..

[tbyg52]

20. Sounds plausible to me . nt

[inna]

26. Jane Hamsher is a true progressive,

I couldn't care less about the DLC propaganda here, or elsewhere.


GO JANE, :yourock:

:)

:)

[FLAprogressive]

30. +1

[avaistheone1]

56. +1

[ProSense]

36. Yeah, progressives heart Grover Norquist. n/t

[inna]

44. Norquist can/should eat shit and die, as far as i'm concerned.

(As a side point, what is it they say about a broken clock?... nm)


On edit: "eat shit and die" as a figure of speech, and very distatesteful so upon reflection. Feel free to report.

[ipaint]

58. I feel the same way.

That doesn't change the fact 800 billion dollars is about to be disappeared because no liberal inside the beltway will touch rahm.
Somebody has got to do the dirty work and using norquist is sure to shine a light on the theives.

[glitch]

51. -800.000.000.000

Don't you ever get tired of low-level logical fallacies?

Please, do us a favor, upgrade.

[golddigger]

68. +1

[ipaint]

37. Rahm Emanuel's profitable stint at mortgage giant

"On Emanuel's watch, the board was told by executives of a plan to use accounting tricks to mislead shareholders about outsize profits the government-chartered firm was then reaping from risky investments. The goal was to push earnings onto the books in future years, ensuring that Freddie Mac would appear profitable on paper for years to come and helping maximize annual bonuses for company brass.

The accounting scandal wasn't the only one that brewed during Emanuel's tenure.

During his brief time on the board, the 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.

The board was throttled for its acquiescence to the accounting manipulation in a 2003 report by Armando Falcon Jr., head of a federal oversight agency for Freddie Mac. The scandal forced Freddie Mac to restate $5 billion in earnings and pay $585 million in fines and legal settlements. It also foreshadowed even harder times at the firm."

...In his investigation, Falcon concluded that the board of directors on which Emanuel sat was so pliant that Freddie Mac's managers easily were able to massage company ledgers. They manipulated bookkeeping to smooth out volatility, perpetuating Freddie Mac's industry reputation as "Steady Freddie," a reliable producer of earnings growth. Wall Street liked what it saw, Freddie Mac's stock value soared and top executives collected their bonuses.

Another focus of Freddie during Emanuel's day—and one that played to his skill set—was a stepped-up effort to combat congressional demands for more regulation."

http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story?page=2

Oh yeah rahm's squeaky clean. :crazy:

[FLAprogressive]

40. THAIR IS NO PROOF!!! JANE HAMPSHIRE IS A RACIST! WHY DO YOU HATE BLACK PEOPLE?

[WeDidIt]

43. I suggest you go to FR and read the posts of pissant

pissant is a true believer of ORly Taitz.

Really, I suggest you do go over there and read his posts.

Seriously.

[ipaint]

55. Familiar with the place are ya? hmmm...

[Binka]

59. Interesting Question Paint hmmmm n/t

[sendero]

48. I have no trouble believing this..

... because the government's attempt to re-inflate the housing bubble is not working and it is not going to work, ever.

This leaves Fannie and Freddie in a very bad place.

[mmonk]

50. Recommended.

[ipaint]

54. Freddie Mac scandals began during Emanuel's watch

By Bob Secter and Andrew Zajac Tribune reporters

March 26, 2009


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

...The Obama administration rejected a Tribune request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director. The documents, obtained by Falcon for his investigation, were "commercial information" exempt from disclosure, according to a lawyer for the Federal Housing Finance Agency.

http://www.chicagotribune.com/news/local/chi-rahm-emanuelmar26,0,1946702.story

bold is mine.


Nice to have friends in high places. What was that Obama promised...open government?

[FLAprogressive]

62. I'm sorry, that's not a reliable source.

:rofl:

[Political Heretic]

60. So I didn't know who Jane Hamsher is, and I've never read FireDogLake. Here's my take:

Just from reading this thread alone, I gotta tell ya, the people shouting "Orly Taits! Orly Taits!" and use simplistic, childish logical fallacies to try shout down a serious understanding of the obvious close connections between our national political leaders and this administration and the financial elite sound more unhinged than those they are accusing of being "unhinged."

I guess now I'll have to go read the article for myself. I was just reading this thread since I'd never heard of Jane Hamsher, and marveling at the responses. Methinks they doth protest too much...

:)

[merkins]

61. K&R

[bajamary]

63. Thanks for posting this

Thanks for posting this.

I can't wait for more to be revealed about Saint Rahm.

I'm really looking forward to hearing the FBI audio tapes of Saint Rahm pleading with the corrupt Illinois Gov. Blagovich to appoint a "seat warmer" to his IL 5th Congressional District seat so that Saint Rahm could run and win his COngressional seat back when he leaves the Obama WH.

You see, Saint Rahm is planing on taking over Nancy Pelosi's job. Seriously, this guy has BIG plans for a tiny man.

I am so happy that my COngressman, Mike Quigley IL 5th Congressional district, is a real progressive.

You better believe I'll be working for Mike when Saint Rahm tries to take away his congressional seat in the Dem. primary. Can't wait for this battle :)

[FLAprogressive]

65. no problem. unfortunately the Rahmbots are out in full force tonight

[CynicalObserver]

72. I am kind of surprised at how naive people are about politics and money

Looking at what went on at freddie/fannie, and considering the mind-boggling notion of letting them now have nearly a trillion to spend with no effective oversight again, Rahm would have to be the most innocent, misled saint to have not been well aware of what was going on and of the implications now of letting them have this money.

I don't get how folks here seem to think their favored politicians are saints who never act in their own interests, but the slightest accusation of the same about members of the other party are automatically fact. Adults should understand that politicians are corrupt by their very nature no matter what party they happen to be in, and just get over it.

The big problem here is the size of the corruption. The US Treasury is being looted before our very eyes by the Street and the political class at a rate never seen before. This can only end with permanent damage to the US dollar on a scale not seen in most people's lifetimes.

[bajamary]

64. Thanks for posting this

Sorry for the duplicate

[ProSense]

67. Next on the hit list:

Bernie Sanders.

[ipaint]

70. Good.

If you can't get a "socialist" to vote against a bill that gives 1 trillion in taxpayer money to a private business, mandates lifetime payment from taxpayers and leaves tens of millions uninsured then what is the use of having a socialist in the senate.

Is there any principle that is non-negotiable. If there isn't lets just put the repubs in charge and get it over with. This slow slide to the right is bullshit.

[newspeak]

71. thanks for posting

I knew Rahm had something to do with freddie mac and freddie mae. If this is true, it stinks big time. But O selecting Rahm for his cabinet, and retaining some of the * leftovers, to me was a sign of things to come.

[FLAprogressive]

74. Well well well....would you look what's taking place today?

WASHINGTON (AP) — The Obama administration says it is removing the $400 billion financial cap it will provide to Fannie Mae and Freddie Mac to keep the mortgage giants from failing.

Treasury Department officials said the cap will be replaced with a flexible formula to ensure the companies will have all the government support needed to stand behind the billions of dollars in mortgage-backed securities they sell to investors.

Since the financial crisis hit last year, the Fannie and Freddie have received $111 billion in government infusions. While most analysts believe that the companies are unlikely to use the full $400 billion, the administration decided to remove the cap to eliminate any uncertainty about the government's commitments.

[ipaint]

75. More here, too.

By DAMIAN PALETTA and JAMES R. HAGERTY

The top regulator for Fannie Mae and Freddie Mac is expected to announce millions of dollars in pay packages for top executives at the government-run mortgage-finance titans, people familiar with the matter said.

The Federal Housing Finance Agency approved compensation plans for Fannie Chief Executive Michael Williams and Freddie CEO Charles Haldeman Jr. Those packages are expected to be in a range of $4 million to $6 million, people familiar with the matter said. The companies are expected to spell out pay details for their top executives in securities filings Thursday morning.

The Christmas Eve announcement is likely to provoke a fresh round of controversy concerning the federal government’s role in propping up the two companies. Taxpayers have pumped more than $100 billion of capital into both firms to keep them from collapsing amid huge losses stemming from falling home prices and mortgage defaults.

Representatives of both Fannie and Freddie declined to comment Wednesday evening.

http://firedoglake.com/2009/12/24/fannie-freddie-heads-to-get-4-6-million/

[FLAprogressive]

76. according to NoSense though, Jane must be lying. lol

[ipaint]

77. The bush tactic of repeating the lie a gazillion times and then ignoring all facts to the contrary

is wearing a little thin these days, me thinks. :evilgrin: