Rahm Emanuel the Putz

Rahm Emanuel’s profitable stint at mortgage giant — chicagotribune.com — There are so many conflicts of interest in the Obama administration. Of course the New York media refuses to give this much attention lest they get cut out of those press conferences.

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.

Found by Mike Cosmi.