Rahm Emanuel earned $320,000 for a 14-month term on Freddie Mac’s Board of Directors. Rahm was appointed to the board by Bill Clinton.

What did he do to earn that $320,000?

• Attended less than 6 board meetings
• Served on zero (0) board working committees
• Blocked attempts by Congress to regulate the organization

The Obama administration denied a Freedom of Information request from the Chicago Tribune to review the minutes of board meetings Rahm Emanuel attended.

Shouldn’t Barney Frank call for Emanuel to return the $320,000 he made at Freddie Mac? After all, the government seizure of Freddie Mac has cost taxpayers over $200 billion so far. Better yet, why don’t we impose a 90% tax on the $16 million Emanuel received as an investment banker after leaving the Clinton administration?

President Obama has promised to restore confidence in financial institutions and its executives. Unfortunately, past behavior is the best indicator of future performance.

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