Easy Money

Want a cushy job that pays big bucks for no work? Do what Rahm Emanuel did and serve on the board of Freddie Mac:

Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.

One of those allegedly asleep-at-the-switch board members was Chicago's Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.

Now Rahm is basically in charge of the White House. How soon until it fails (if it hasn't already)?