Obama has appointed as his chief of staff Rahm Emanuel, a former director of the failed government-backed mortgage giant Freddie Mac, which had to be bailed out by taxpayers. It’s perhaps not surprising, given that Obama was the second-largest recipient of campaign contributions from Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that helped spawn the mortgage meltdown and financial crisis. Emanuel was the money man for the Chicago Democratic machine under Mayor Richard Daley, and is famous for his…

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