Emanuel was named to the Board of Directors of the Federal Home Loan Mortgage Corporation (Freddie Mac) by President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales.[31][32] He was not assigned to any of the board's working committees, and the Board met no more than six times per year.[32]
During his time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities.[32][33] The Obama Administration rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and
correspondence during Emanuel's time as a director.[32]
The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board
of having "failed in its duty to follow up on matters brought to its attention."
Emanuel resigned from the board in 2001 when he ran for Congress.[34]
http://en.wikipedia.org/wiki/Rahm_Emanuel
