Entry 51870 (Berkeley CSUA MOTD)

Berkeley CSUA MOTD:Entry 51870

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2025/05/25 [General] UID:1000 Activity:popular

5/25

2008/11/7-13 [Computer/SW/OS/OsX] UID:51870 Activity:nil

11/7    So much for hoping for change
        http://www.abcnews.go.com/Blotter/story?id=6201900&page=1
        \_ The report also said board members appointed by the President,
           such as Emanuel, serve terms that are far too short "for them to
           play a meaningful role on the Board."
           \_ Don't let your pesky facts get in jblack's way!
              \_ jblack, are you posting to the motd again? Welcome back,
                 did you ever find those WMD you kept harping on about?

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www.abcnews.go.com/Blotter/story?id=6201900&page=1Collapse According to a complaint later filed by the Securities and Exchange Commission, Freddie Mac, known formally as the Federal Home Loan Mortgage Corporation, misreported profits by billions of dollars in order to deceive investors between the years 2000 and 2002. com, a spokesperson said Emanuel served on the board for "13 months-a relatively short period of time." The spokesperson said that while on the board, Emanuel "believed that Freddie Mac needed to address concerns raised by Congressional critics." Freddie Mac agreed to pay a $50 million penalty in 2007 to settle the SEC complaint and four top executives of the Federal Home Loan Mortgage Corporation were charged with negligent conduct and, like the company, agreed to settle the case without admitting or denying the allegations. The actions by Freddie Mac are cited by some economists as the beginning of the country's economic meltdown. The federal government this year was forced to take over Freddie Mac and a sister federal mortgage agency, Fannie Mae, pledging at least $200 billion in public funds. Freddie Mac records have been subpoenaed by the Justice Department as part of its investigation of the suspect accounting procedures. Emanuel was named to the Freddie Mac board by President Bill Clinton in 2000 and resigned his position when he ran for Congress in May, 2001. If you would like to tell us more facts about this story, please click here to send the editors of ABC News a separate email with the information you have. Please enable javascript to use the community features on this page. Privacy Policy/Your California Privacy Rights External links are provided for reference purposes. ABC News is not responsible for the content of external internet sites.