Obama Nominates Former Freddie Mac Executive As ‘Housing Commissioner’

CNS News ^ | Tuesday, March 24, 2009 | By Staff, Associated Press

[OpusatFR]

Washington (AP) - President Barack Obama has named a former Freddie Mac executive to head the federal housing commission.

The White House on Monday named David Stevens as assistant secretary at the Department of Housing and Urban Development. The position requires Senate confirmation and would put Stevens in charge of the government's housing mortgage-insurance program.

Stevens now is the head of Long and Foster Companies, a real estate and mortgage firm. He previously worked at World Savings bank and Wells Fargo Home Mortgage.

At Freddie Mac, Stevens was a senior vice president in charge of affordable lending, sales and marketing.

[OpusatFR]

What can one say? Our government is just one big incestuous bunch of ......

[silverleaf]

what was his Freddy Mac bonus?

[3catsanadog]

The inmates are running the asylum.

[Doogle]

OUTRAGEOUS!

[SueRae]

WHAT???????? This has yet another example of the utter arrogance that is our current leader(in name only) Start the phone calls to Congresscritters!!!! I am so steamed..nothing new these days.

YOU! SHALL NOT PASS!!!!!!!

(Love Ganfdalf, love LOTR - but this battle is almost shaping up to be that of M.E. - Rahm can play Gollum)

[tatsinfla]

CHANGE IS WHAT WE GET, THEY CHANGE FROM THIS JOB TO THAT JOB.

[buffyt]

We are SO SCREWED!

[Doogle]

At Freddie Mac, Stevens was a senior vice president in charge of affordable lending, sales and marketing

...at which, he must have known about the toxic &&&& they were bundling......this is going to make big headlines if it's played right

[MIchaelTArchangel]

I think the term his is looking for is “commisar”!

[Ann Archy]

What a FREAKING JOKE!

[Girlene]

Hot Air has a good writeup on David Stevens role in Freddie Mac. Creator of Freddie Mac’s Home Possible goes to FHA

.....Stevens will have to explain his work for Freddie Mac in the years when the mortgage giant fueled a lending frenzy, mostly through Stevens’ own work on a program called Home Possible..........

.......Stevens’ experience at Freddie Mac should prove instructive. The Home Possible program that Stevens launched practically gives a blueprint for the housing-bubble collapse and the government’s role in it................

[Ev Reeman]

Given the fact that Fannie and Freddie are financial and economic disasters, I cannot believe this choice. Obummer is truly a moron.

[Nachum]

The List, ping

[Nathan Zachary]

Oh great, hire the crook who made the loans to cover up his tracks by buying them back.

What a web of crooks Obama has.

[BlueAngel]

Maybe one of the reporters will ask Obama about this tonight. Yeah, right!

[HollyB]

He’ll fit right in.

[NonValueAdded]

Holy Carp! With a resume like that, he should get eaten alive in any sane confirmation process. Too bad there’s no such thing as a sane confirmation process.

[sten]

i guess barney frank wasn’t available...