Emanuel Linked to Failed Mortgage Giant

A quick trip around Hannity's America...

Emanuel's Ethics

We already knew Democrats like Barack Obama, Chris Dodd, Maxine Waters and Barney Frank had received loads of money from the very banks responsible for our financial turmoil. Now, White House Chief of Staff Rahm Emanuel is joining their ranks.

The Chicago Tribune reports that Emanuel raked in $320,000 from failed mortgage giant Freddie Mac over a 14-month period, during which time he served on the company's board. According to the Tribune, on Emanuel's watch the board was told by executives of a plan to use accounting tricks to mislead shareholders about outsize profits the government-chartered firm was then reaping from risky investments.

And let's not forget that Emanuel's boss, the president, was the No. 2 recipient of Fannie and Freddie funds in the entire Senate — no easy feat. So when you're looking to for a place to send complaints about the current fiscal crisis, you can send them directly to 1600 Pennsylvania Avenue.

Pelosi to the Rescue

You can rest easy, because the Democrats are here to save the day. That is according to House Speaker Nancy Pelosi, who Wednesday told reporters that she and all her liberal friends have got this economic crisis under control.

Her words of encouragement have put her in our Liberal Translation:


SPEAKER OF THE HOUSE NANCY PELOSI, D-CALIF.: Congress and the administration will be working very closely to make sure that we bring some common sense to the financial system.

LIBERAL TRANSLATION: Me in charge of common sense is like having Obama be the captain of a bowling team.

PELOSI: A financial system that has run amok.

LIBERAL TRANSLATION: Pay no attention to the fact that it happened while Democrats were in the majority.

PELOSI: I am pleased that because congresswoman — excuse me, chairman — Chairman Barney Frank has talked about a macro regulator to deal with systemic risks for a long time.

LIBERAL TRANSLATION: That one's not going to sit well with Barney.

PELOSI: He has been having hearings. He will be — to continue to have hearings on this subject as we go forward.

LIBERAL TRANSLATION: We figure the more he's holding hearings, the less time he has to make TV appearances.



Speaker Pelosi, these dog and pony show hearings are not going to get us out of this recession. No offense, but you and Chairman Frank don't have me brimming with confidence.

Tensions Rising

Our Great Moment in Liberal Foreign Policy is brought to you by — who else — our esteemed Secretary of State Hillary Clinton.

You may remember that despite two wars raging in the Middle East, Clinton decided to head to Asia for her first trip as secretary in an attempt to signal a new start in relations between the U.S., China and others. While on the trip, the secretary even spoke of her "openness to working with North Korea."

So, what did all of that liberal smooth talking get us? Well, this week, news broke that the North Koreans have made the final preparations to launch a missile capable of striking the United States. The AP reports that the rocket has been mounted on a launch pad and could liftoff sometime in the next few weeks.

And that's not all: Clinton's commitment to working closely with China also hit a speed bump Thursday, as Chinese officials responded to a U.S. report that was critical of the Chinese military. Beijing issued a strong condemnation and urged the U.S. to halt these reports or risk serious damage to our relationship.

Secretary Clinton also met in Washington Thursday with many of our allies to discuss the developing North Korean crisis. I certainly hope the secretary is starting to rethink her "openness" to working with the government of Kim Jong-Il.


Barack Obama promised change, and many Americans are certain he is bringing it! An Investors Business Daily poll released Wednesday asked Americans if they agree that the U.S. is evolving into a socialist state, and here are the disturbing results: 39 percent — over one third of Americans — said yes! That's up from 25 percent in late August.

Not only that, but talk of the president's radical economic policies is making its way into popular culture. Late-night comedian Jay Leno decoded the president's euphemistic language this way:


JAY LENO, HOST, "THE TONIGHT SHOW": The country of China is going to be doing a Broadway-style play based on Karl Marx's book on communism. A play based on communism. You know, that's where capitalism is replaced by the government taking over control of all private industry. Or as we call it in this country: stimulus package.


Unfortunately, if the president succeeds in passing all of the legislation he is discussing, it will not be a laughing matter.

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