The New York Times recently shed new light on Emanuel's Wall Street days -- and how they helped send him to Congress.
In late 1998, Emanuel left the Clinton White House to work for Wasserstein Perella, a now defunct investment bank run by Bruce Wasserstein, a major Democratic donor.
"I had this idea that this could work and that it had upside," Wasserstein told the Times. "It worked out better than I could have hoped."
Indeed, as we previously noted, Emanuel used his political connections to broker major deals while at the firm. (One deal was a $16 billion merger that created Exelon Corp., now one of the nation's largest electric utilities. Another involved SBC Communications, the telecommunications company run by William Daley, Clinton's commerce secretary and the brother of Chicago's mayor.)