Changes

President Clinton brought Rahm Emanuel into the White House in 1993 as part of his staff, first serving as Assistant to the President for Political Affairs, and then Senior Adviser to the President for Policy and Strategy. 1998 Clinton appointed to the Board of the [[government sponsored entity]] Freddie Mac.<ref>http://online.wsj.com/article/SB122610420534009957.html</ref><ref>[http://abcnews.go.com/Blotter/story?id=6201900&page=1 Emanuel Was Director Of Freddie Mac During Scandal], ABC News, November 7, 2008.</ref> While on the board during the Clinton administration, Freddie Mac misreported its net income by 30.5 percent, and again in 2001 by 23.9 percent and in 2002 by 42.9 percent, defrauding investors according to the SEC. Freddie Mac's failure is regarded as one of the precipitating events of the [[Financial_Crisis_of_2008#2008_crises| Financial Crisis of 2008]]. Emanuel later is reported to have sold up to $250,000 in Freddie Mac stock in an insider trading deal only days before the stock dropped by 10 percent — and weeks before it was publicly revealed that the entity was under criminal investigation for inflating earnings.<ref> http://www.businessinsider.com/book-rahm-emanuel-dumped-tons-of-freddie-mac-stock-days-before-it-collapsed-2011-11#ixzz2MnesKpxI </ref> In 2009 Emanuel became President Obama's Chief of Staff.