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"Rahm Emanuel"

“You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.” – White House Chief of Staff Rahm Emanuel

Rahm Emanuel (b. 1959) is a powerful Democrat and former Chief of Staff to President Obama. He represented Illinois' 5th Congressional District in the House of Representatives 2003-2008. As chairman of the Democratic Congressional Campaign Committee, he took credit gaining a majority for the first time since 1994. He became a top leader as Chairman of the Democratic Caucus in the House.

Emanual was appointed to the Board of Directors of Freddie Mac by President William Jefferson Clinton, shepherding the subprime lending abuses under the Community Reinvestment Act. Barack Obama appointed Emanuel as his first Chief of Staff. Emanuel resigned amidst charges of his involvement in Operation Fast and Furious and the Jobsgate scandal<ref>http://www.denverpost.com/ci_15213784</ref><ref>http://voices.washingtonpost.com/thefix/white-house/how-the-sestak-job-offer-becam.html</ref> reportedly to run for Mayor of Chicago and take control of the Chicago Democratic party machine.<ref>http://biggovernment.com/tfitton/2010/10/14/is-scandal-ridden-rahmbo-chicagos-next-mayor/</ref>

Illustrating Emanuel's penchant for exploiting crises for political gain, he remarked, “A crisis is a terrible thing to waste.”<ref>Rahm EmanuelYouTube- you never want a serious crisis video</ref><ref>://online.wsj.com/article/SB122721278056345271.html?mod=googlenews_wsj</ref>

Background

Emanuel is the son of a prominent physician, Dr. Benjamin M. Emanuel; the father was born in Jerusalem. Emanuel has a bachelor's degree from Sarah Lawrence College (1981), and a master's degree in speech and communication from Northwestern University (1985). Emanuel and his wife Ann have three children.

Clinton White House

He worked in the Bill Clinton White House from 1993-1998, first serving as Assistant to the President for Political Affairs, and then Senior Adviser to the President for Policy and Strategy. He was demoted at the behest of Hillary Clinton after complaints from other staffers. Ironically, as Obama Chief of Staff, Emanuel was now in a position to overrule Hillary Clinton when she attempted to hire another former Clinton White House staffer, Sidney Blumenthal.

Leaving the White House staff, he became wealthy as an “investment banker” on the Board of the government sponsored entity Freddie Mac, 1999-2002. Emanuel had no previous banking experience.

Emanuel's role in Freddie Mac and the subprime lending crisis

Emanuel was appointed to the board of scandal-plagued quasi-governmental mortgage giant Freddie Mac by President Clinton. <ref>http://online.wsj.com/article/SB122610420534009957.html</ref><ref>Emanuel Was Director Of Freddie Mac During Scandal, ABC News, November 7, 2008.</ref> While Emanuel was on the board, Freddie Mac misreported its net income in 2000 by 30.5 percent, in 2001 by 23.9 percent and 2002 by 42.9 percent, defrauding investors according to the SEC. Freddie Mac's failure is regarded as one of the precipitating events of the Financial Crisis of 2008.

On February 21, 2003, Emanuel was then serving Congress and reportedly sold up to $250,000 in Freddie Mac stock in an insider trading deal only days before the stock dropped by 10 percent — and weeks before it was publicly revealed that the entity was under criminal investigation for inflating earnings.<ref> http://www.businessinsider.com/book-rahm-emanuel-dumped-tons-of-freddie-mac-stock-days-before-it-collapsed-2011-11#ixzz2MnesKpxI </ref>

Congressional leadership position

Emanuel served in Congress 2002-2008 from the North Side of Chicago. Among Democrats in the House, he was squarely in the middle in his votes on social, economic and foreign policy issues. His aggressive in-your-face style alienated his opponents, but Emanuel took charge of the 2006 election for House Democrats, and secured major gains, giving the Democrats a majority for the first time since 1994, and propelling Emanuel to a top leadership role.

Obama Chief of Staff

In the White House Emanuel's aggressive demands for a stimulus package won passage of the liberals' $789 billion bill in February, but alienated Republicans (only three of whom voted for it). His seizure of control of the Census Bureau from the Commerce department led Senator Judd Gregg, a leading Republican, to reverse himself and reject the job of Secretary of Commerce. Emanuel released control of the census to head off complaints of political interference. Emanuel also ran roughshod over the Secretary of State, vetoing her choice for a senior aide.

In President Obama's first year Emanuel was considered to be the most powerful White House chief of staff in decades.

See also

References

Specific References
General References

Based on research from diverse Fair Use Disclaimer Sources:

Snippet from Wikipedia: Rahm Emanuel

Rahm Israel Emanuel (; born November 29, 1959) is an American politician who served as the 55th mayor of Chicago from 2011 to 2019. A member of the Democratic Party, he previously served as the 23rd White House Chief of Staff from 2009 to 2010, and as a member of the United States House of Representatives from Chicago between 2003 and 2009.

Born in Chicago, Emanuel is a graduate of Sarah Lawrence College and Northwestern University. Working early in his career in Democratic politics, Emanuel was appointed as director of the finance committee for Bill Clinton's 1992 presidential campaign. In 1993, he joined the Clinton Administration, where he served as the assistant to the president for political affairs and as the Senior Advisor to the President for policy and strategy. Beginning a career in finance, Emanuel worked at the investment bank Wasserstein Perella & Co. from 1998 for 2½ years, and served on the board of directors of Freddie Mac. In 2002, Emanuel ran for the seat in the U.S. House of Representatives vacated by Rod Blagojevich, who resigned to become governor of Illinois. Emanuel won the first of three terms representing Illinois's 5th congressional district, a seat he held from 2003 to 2009. After the 2008 presidential election, President Barack Obama appointed Emanuel to serve as White House chief of staff.

In October 2010, Emanuel resigned as chief of staff to run as a candidate in Chicago's 2011 mayoral election. Emanuel won with 55% of the vote over five other candidates in the non-partisan mayoral election, succeeding 22-year incumbent Richard M. Daley. At his reelection, although Emanuel failed to obtain an absolute majority in the February 2015 mayoral election, he defeated Cook County board commissioner Jesús "Chuy" García in the subsequent run-off election in April. In late 2015, Emanuel's approval rating plunged to "the low 20s" in response to a series of scandals. These followed and were attributed to the police shooting of 17-year-old Laquan McDonald, the city's subsequent attempts to withhold a video of the shooting, and the lack of an investigation into the matter.

Emanuel initially announced in October 2017 he planned to run for a third term, but on September 4, 2018, Emanuel reversed this decision and stated he would not seek a third term due to personal obligations. The Chicago Tribune assessed Emmanuel's performance as mayor as "mixed." At one point, half of Chicagoans favored Emanuel's resignation. He later made steady progress in recovering his political support. He left office in May 2019 and was succeeded by Lori Lightfoot.

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rahm_emanuel.txt · Last modified: 2020/03/12 18:37 (external edit)