Freddie Mac records exempt from FOIA (Obama Admin Denies FOIA Request)
Sunlight Foundation ^ | 03/26/2009 | Bill Allison

Bob Secter and Andrew Zajac of the Chicago Tribune report that, while researching what went at Freddie Mac during the period White House Chief of Staff Rahm Emanuel served on the government sponsored enterprise’s board of directors, they were unable to get minutes of board meetings and other information:

The Obama administration rejected a Tribune request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel’s time as a director. The documents, obtained by Falcon for his investigation, were “commercial information” exempt from disclosure, according to a lawyer for the Federal Housing Finance Agency.

Freddie Mac executives cooked the books, mismanaged the firm, and ultimately drove it into the ground, costing taxpayers billions of dollars. The “commercial information” exemption is reserved for private companies–Freddie Mac is by no means a private company anymore.

Sector and Zajac did get contemporaries of Emanuel to describe his participation on the company’s board:

   One of Emanuel’s fellow directors at Freddie Mac was Neil Hartigan, the former Illinois attorney general. Hartigan said Emanuel’s primary contribution was explaining to others on the board how to play the levers of power.

   He was respected on the board for his understanding of “the dynamics of the legislative process and the executive branch at senior levels,” Hartigan recalled. “I wouldn’t say he was outspoken. What he was, was solid.”

Shouldn’t that information now be available to the taxpayers who are bailing out the company?

He probably needed to do this because it keeps Americans safer or protects us from terrorists...

Bringing transparency to DC, huh?

I wonder what they have to hide.

Well that make rahm sound like a corrupt shit-ca-go criminal politician.  It must be a mistake.

Isn't his entire cabinet somehow connected with Fannie and Freddie?

Most Dem politicians are.  Fannie and Freddie are the places Dems go in between public offices, campaigns, and appointed positions.  They typically work as congressman or party officials, once they get booted from office or decide to make some cash, they are generally given positions in either GSE (gov't sponsored enterprises).  After they make a few scheckles, they go back into office or work for a political campaign.

Republicans typically do the same with lobbyist groups, but Fannie and Freddie are democratic party institutions.  Why do you think they always support them and were so intent on preventing any sort of investigation or regulation during the Bush admin?  

Isn't it a great system for those who are well connected?  Privatized profits, and tax payer subsidized losses.  Thanks FDR!

More scumbags trying to cover their tracks. So much for transparency.

Assholes.

The fix is in.

These scumbags ENGINEERED this current "crisis" in order to seize control.

This is the kind of thing that proves it.

Grand Jury time

Who?

"Falcon"!??

Documents were obtained?!?  What documents??

Am I missing something here???

This-it'll be interesting how the Dems spin this compared to them hounding Cheney about disclosure regarding his meetings with Enron et al.

Been saying this for years.

What is tinfoil today, is news tomorrow.

BTT with this sordid story.