October 01, 2020, 02:23:35 AM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
 
   Home   Help Login Register  
Pages: 1   Go Down
  Print  
Author Topic: "Obama’s new FHFA director wants more government in housing"  (Read 2024 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« on: January 06, 2014, 05:51:25 PM »

Why didn't they reform Freddie/Fannie under Bush?  'You don't want poor people to have homes...' - Barney

Quote
Rep. Mel Watt was sworn in Monday afternoon as the new director of the Federal Housing Finance Agency (FHFA). His nomination was originally blocked by a Republican filibuster because of concerns that Watt’s political involvement and close ties with the administration would be a detriment to the mission of the FHFA. When Senate Democrats changed the rules using the “nuclear option,” however, Watt was easily confirmed.

Quote
Watt was also one of two congressmen who led the effort to block President George W. Bush’s 2003 reforms that would have limited the liability of Fannie Mae and Freddie Mac. At the time, his partner in the effort, Rep. Barney Frank, told The New York Times, “These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis.”

But five years later, these GSEs collapsed, bankrupt. They were taken over by the federal government in what was described by the Washington Post as “one of the most sweeping government interventions in private financial markets in decades.” Put into conservatorship by the Department of the Treasury and the FHFA, Fannie and Freddie ended up costing taxpayers over $100 billion.

Read more here http://dailycaller.com/2014/01/06/obamas-new-fhfa-director-wants-more-government-in-housing/

The sad thing?  How many homes will be overpriced, foreclosed and sold in 'bulk' for pennies on the dollar to 'non profits'?  Maybe even using taxpayer dollars?  When does the revolving door close forever?
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages: 1   Go Up
  Print  
 
Jump to:  

Use of this web site in any manner signifies unconditional acceptance, without exception, of our terms of use.
Powered by SMF 1.1.13 | SMF © 2006-2011, Simple Machines LLC
 
Page created in 7.2 seconds with 19 queries.