Tuesday, February 11, 2014

Flashback: Did Rahm Emanuel Violate Sarbanes-Oxley As a Freddie Mac Board Member ?

He's the 1% who didn't earn his more honestly. Flashback to Hot Air concerning Rahm Emanuel. Why isn't Eric Holder concerned about Sarbanes-Oxley for Freddie Mac board members??
Emanuel’s action, or lack of it, came during a time when the SEC says Freddie Mac misrepresented its income to investors in order to maintain its price. In other words, they committed fraud. The SEC specifically notes that Freddie did this in 2000, 2001, and 2002, and Emanuel sat on the board in 2000-2001.

This is no small matter. Had this happened when Sarbanes-Oxley was in effect, Emanuel would have had to sign off on those numbers under penalty of perjury. He could be liable for criminal prosecution. As it is, his actions and omissions as a board member may still result in civil and criminal liability, if the SEC discovers that he had a hand in the fraud committed at Freddie Mac, or if Emanuel knew about it and failed to act to stop it.
Why didn't the Occupy movement focus on ethically challenged Rahm?