Nathan Burchfiel is assistant editor at the Business & Media Institute (BMI) of the Media Research Center. He says according to various media reports, president-elect Obama's chief of staff, Rahm Emanuel, held a paid position on Freddie Mac's board during the years the agency was plagued with financial scandal.
Burchfiel says, in fact, since his successful run for the House of Representatives in 2002, Emanuel has been the beneficiary of more than $51,000 in campaign cash from Freddie Mac and its sister organization, Fannie Mae. The media watchdog has a problem with that.
"Barack Obama campaigned on the idea that he was going to bring change to Washington," he notes, "and [yet] he's selected a chief of staff who has a history with Freddie Mac -- one of the institutions that is largely responsible for the problems that we're dealing with financially right how."
Consequently, says Burchfiel, if the president-elect is going to appoint individuals who have strong financial ties to these organizations, "we kind of have to question if this is really the 'change' we were promised...."
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