Skip to comments.Obama Faces Pressure From Left on Housing Regulator (DeMarco)
Posted on 02/08/2013 2:53:22 PM PST by Lorianne
When will the White House finally have something to say about President Barack Obamas pick to run the FHFA?
That question is on the mind of 45 House Democrats. The lawmakers, led by Reps. Elijah Cummings (D., Md.) and John Tierney (D., Mass.), sent a letter on Thursday to President Barack Obama urging him to nominate a director of the Federal Housing Finance Agency-the federal regulator for Fannie Mae FNMA and Freddie Mac
We believe your re-election is a prime opportunity to put forth a new candidate who is ready and willing to implement all of Congress directives to meet the critical challenges still facing our nations housing-finance markets, the lawmakers wrote.
The agencys acting director, Edward DeMarco, has been criticized by Democrats on Capitol Hill, administration officials and liberal groups, all of whom have been calling on Mr. Obama to replace Mr. DeMarco.
Representatives for the White House and Mr. DeMarco were not immediately available for comment.
Why all the fuss about a seemingly obscure regulator? The most prominent area of conflict has been the FHFAs refusal to accept the Obama administrations offer to subsidize the cost of debt forgiveness for troubled homeowners.
(Excerpt) Read more at blogs.wsj.com ...
".... Obama administrations offer to subsidize the cost of debt forgiveness for troubled homeowners."
What a nice fellow Obama is! He is offering to subsidize the cost of debt forgiveness out of his and his administration's own pockets! ... oh wait.
Grim proving ground for Obama's housing policy Boston Globe 6-27-2008
"About 99 of the units are vacant, many rendered uninhabitable by unfixed problems, such as collapsed roofs and fire damage. Mice scamper through the halls. Battered mailboxes hang open. Sewage backs up into kitchen sinks. In 2006, federal inspectors graded the condition of the complex an 11 on a 100-point scale - a score so bad the buildings now face demolition."
Yeah, all of that and a nickel - you might be able to get on the bus.
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