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→Emanuel's role in the subprime lending crisis
==Emanuel's role in the subprime lending crisis==
==Emanuel's role in the subprime lending crisis==
Emanuel was appointed to the board of scandal-plagued quasi-governmental mortgage giant Freddie Mac by President Clinton. <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,
Emanuel was appointed to the board of scandal-plagued quasi-governmental mortgage giant Freddie Mac by [[President Clinton]]. <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 Emanuel was on the board, Freddie Mac misreported its net income in 2000 by 30.5 percent, in 2001 by 23.9 percent and 2002 by 42.9 percent 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]].
November 7, 2008.</ref> While Emanuel was on the board, Freddie Mac misreported its net income in 2000 by 30.5 percent, in 2001 by 23.9 percent and 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]].
On February 21, 2003, Emanuel was then serving Congress and reportedly sold up to $250,000 in Freddie Mac stock days before it 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>
==Congressional leadership position==
==Congressional leadership position==