Editing Rahm Emanuel (section)

==Career in finance==
After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the administration and joined the [[investment banking]] firm [[Wasserstein Perella & Co.|Wasserstein Perella]], where he worked for 2.5 years.<ref name="NYT_Sanati_20081107">{{cite news|title=Rahm Emanuel, Former Investment Banker|first1=Cyrus|last1=Sanati|first2=Andrew Ross|last2=Sorkin|work=[[New York Times]]|date=November 7, 2008|url=http://dealbook.blogs.nytimes.com/2008/11/07/rahm-emanuel-former-investment-banker|access-date=November 8, 2008|archive-url=https://web.archive.org/web/20081210072839/http://dealbook.blogs.nytimes.com/2008/11/07/rahm-emanuel-former-investment-banker/|archive-date=December 10, 2008|url-status=live}}</ref> Although he did not have an MBA or prior banking experience, he became a managing director at the firm's Chicago office in 1999, and according to congressional disclosures, made $16.2 million in his 2.5 years as a banker.<ref name="NYT_Sanati_20081107"/><ref name="Fortune_Easton_20060925">{{cite journal|last=Easton|first=Nina|title=Rahm Emanuel, Pitbull politician|date=September 25, 2006|journal=[[Fortune (magazine)|Fortune]]|url=https://money.cnn.com/2006/09/17/magazines/fortune/politics.fortune/index.htm|publisher=[[CNN]]|access-date=November 6, 2008|archive-url=https://web.archive.org/web/20081103115435/http://money.cnn.com/2006/09/17/magazines/fortune/politics.fortune/index.htm|archive-date=November 3, 2008|url-status=live}}</ref> At Wasserstein Perella, he worked on eight deals, including the acquisition by [[Commonwealth Edison]] of [[Exelon|Peco Energy]] and the purchase by [[GTCR|GTCR Golder Rauner]] of the SecurityLink home security unit from [[SBC Communications]].<ref name="NYT_Sanati_20081107"/>

===Freddie Mac===
In 2000, Emanuel was named to the Board of Directors of [[Freddie Mac]] by President Clinton. He earned at least $320,000 during his time there, including later stock sales.<ref name="chitrib_26march">{{cite news|url=http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story|title=Rahm Emanuel's profitable stint at mortgage giant|newspaper=chicagotribune.com|date=March 26, 2009|access-date=July 10, 2010|first1=Bob|last1=Secter|first2=Andrew|last2=Zajac|archive-url=https://web.archive.org/web/20100619115537/http://www.chicagotribune.com/news/politics/obama/chi-rahm-emanuel-profit-26-mar26,0,5682373.story|archive-date=June 19, 2010|url-status=live}}</ref> During Emanuel's time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities.<ref name="chitrib_26march" /><ref name="ChicagoTribune_Kass_20061122">{{cite news|last=Sweet|first=Lynn|title=Too much money a bad thing? 5th District House candidate Rahm Emanuel tested voter reaction to $6 million salary|date=January 3, 2002|work=The Chicago Sun-Times|url=http://www.highbeam.com/doc/1P2-1426034.html|archive-url=https://web.archive.org/web/20121022125544/http://www.highbeam.com/doc/1P2-1426034.html|url-status=dead|archive-date=October 22, 2012}}</ref> The Bush administration rejected a request under the [[Freedom of Information Act (United States)|Freedom of Information Act]] to review Freddie Mac board minutes and correspondence during Emanuel's time as a director.<ref name="chitrib_26march" /> The [[Office of Federal Housing Enterprise Oversight]] later accused the board of having "failed in its duty to follow up on matters brought to its attention". Emanuel resigned from the board in 2001 before his first bid for Congress.<ref name="freddie">{{cite news|access-date=November 7, 2008|url=http://www.abcnews.go.com/Blotter/story?id=6201900&page=1|title=Emanuel Was Director Of Freddie Mac During Scandal|last1=Ross|first1=Brian|first2=Rhonda|last2=Schwartz|date=November 7, 2008|work=[[ABC News (United States)|ABC News]]|archive-url=https://web.archive.org/web/20081109023123/http://www.abcnews.go.com//Blotter//story?id=6201900&page=1|archive-date=November 9, 2008|url-status=live}}</ref> During this time, he served on the Board of Commissioners of the [[Chicago Housing Authority]].<ref>{{cite web |title=Board of Commissioners 2001-05-15 - May_15_2001.pdf |url=https://www.documentcloud.org/documents/6173149-Board-of-Commissioners-2001-05-15-May-15-2001-pdf.html |website=Document Cloud |access-date=18 August 2024}}</ref>