Changes

Rubin resigned from the administration in 1999 to head up another one of the nation's largest banks, [[Citigroup]]. Under Rubin's leadership Citigroup got $45 billion of [[TARP]] bailout funds, $301 billion of loan guarantees, and an additional $13.4 billion subsidy under the government’s "too-big-to-fail" policy. After driving Citigroup into financial collapse, Rubin was paid $115 million to leave the company.<ref>[http://www.realclearpolitics.com/articles/2013/03/01/jack_lew_and_citigroup_how_the_corrupt_rich_get_richer_with_cronyism_117227.html#ixzz2P5cIL0Vf Jack Lew and Citigroup: How the Corrupt Rich Get Richer with Cronyism,] By Daniel Mitchell, March 1, 2013. [[Real Clear Politics]]</ref>

Rubin resigned from the administration in 1999 to head up another one of the nation's largest banks, [[Citigroup]]. Under Rubin's leadership Citigroup got $45 billion of [[TARP]] bailout funds, $301 billion of loan guarantees, and an additional $13.4 billion subsidy under the government’s "too-big-to-fail" policy. After driving Citigroup into financial collapse, Rubin was paid $115 million to leave the company.<ref>[http://www.realclearpolitics.com/articles/2013/03/01/jack_lew_and_citigroup_how_the_corrupt_rich_get_richer_with_cronyism_117227.html#ixzz2P5cIL0Vf Jack Lew and Citigroup: How the Corrupt Rich Get Richer with Cronyism,] By Daniel Mitchell, March 1, 2013. [[Real Clear Politics]]</ref>

===Rahm Emanuel and Freddie Mac===

===Cronies take over Freddie Mac===

President Clinton brought Rahm Emanuel into the White House in 1993 as part of his original 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 Emanuel to the Board of the [[government sponsored entity]] Freddie Mac.<ref>[http://online.wsj.com/article/SB122610420534009957.html Emanuel Pick Underscores Balancing Act Ahead in Reshaping Financial Industry], [[Wall Street Journal]]</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]].  

President Clinton brought Rahm Emanuel into the White House in 1993 as part of his original 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 Emanuel to the Board of the [[government sponsored entity]] Freddie Mac.<ref>[http://online.wsj.com/article/SB122610420534009957.html Emanuel Pick Underscores Balancing Act Ahead in Reshaping Financial Industry], [[Wall Street Journal]]</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]].