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November 26, 2008
Rahm and Freddie Mac
Here is how Rahm Emanuel has benefited financially from Freddie Mac.
Rahm Emanuel was paid $31,060 in director's fees in 2000 and $231,655 in 2001. In addition, he received options for shares in Freddie Mac. At the time he has appointed to the House subcommittee that had oversight of Freddie Mac he had outstanding options for 2,500 shares.
In a column published August 14, 2003, Chicago Sun Time's veteran political reporter Lynn Sweet wrote about those options and reported that Emanuel's position was that there was no conflict of interest because his financial stake was in a blind trust. He also promised to recuse himself from all votes relating to Freddie Mac. In that column Sweet opined that "Emanuel's trust is supposed to be blind, not stupid." In addition, since first running for Congress in 2002 Emanuel has received $51,750 in Fannie Mae contibutions, according to the Center for Responsive Politics Web site OpenSecrets.org.