Rahm Emanuel Dumped Tons Of Freddie Mac Stock Days Before It Collapsed

[THobbes]

Then-Rep. Emanuel reportedly sold up to $250,000 in Freddie Mac stock on February 21, 2003 days before it dropped by 10 percent — and weeks before it was publicly revealed that the entity was under criminal investigation for inflating earnings.

Emanuel served on the board of the Government-backed lender before his election to Congress in 2003, and later held a seat on the House Financial Services' Committee's Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises — the very committee charged with regulating the Freddie Mac.


Read more: http://www.businessinsider.com/book-rahm-emanuel-dumped...



The only thing wrong with this article is that they again tell the lie that it is perfectly legal

"lawmakers are exempted from the insider trading laws they impose on private traders."

This is not true. They are attempting the practice of THE BIG LIE Say a Lie often enough and everyone will start to believe it.

NO one is above the Law- especially our lawmakers. DUH! What the hell is going on in this country.



Does everyone understand the implications of this?

This is the way to get rid of our corrupt congress, despite our corrupt voting systems. And we can get rid of them NOW.

OWS movement can go on the offense and stop this whole cat food commission NOW!

[mod mom]

1. dupe:

http://www.democraticunderground.com/discuss/duboard.ph...

[Chimichurri]

2. Is he included in the immunity congress gets from insider trading? Firstly, that

should change and he should be held accountable for this egregious conflict of interest.

[THobbes]

6. there is no immunity

Overlooked in all of the media hullabaloo about so-called “congressional immunity” from the insider trading laws were several critical facts. First and foremost, Congress could not have “exempted itself” from its own insider trading laws because Congress has never enacted a federal securities law that
explicitly prohibits anyone from insider trading

http://www.democraticunderground.com/discuss/duboard.ph...

[Chimichurri]

8. so, then they should all be prosecuted because they do benefit from what they know.

[atreides1]

3. Even if we could get rid of them

They would still collect their pnesions and probably try running for office as soon as they could.

[harun]

4. 250K is not ton's. It isn't like he went out and shorted it, he just got out.

I am know Rahm fan but there is nothing to see here.

[sufrommich]

5. I'll wait for a source other than a guy who worked for

Sarah Palin.

[Myrina]

7. No, it is not a lie .... 60 minutes this week ...

... did an expose, and it is PERFECTLY LEGAL for elected officials to have - and use - insider information.

And THAT needs to change, IMMEDIATELY.

[maddezmom]

9. locking

OP is a serial zombie.