Posted on 06/23/2021 6:39:51 PM PDT by caww
President Joe Biden has fired the head of the Federal Housing Finance Agency after the Supreme Court handed him the power to do so on Wednesday.
Director Mark Calabria's firing will be effective at 6 p.m. on Wednesday, the Washington Examiner has learned. Calabria, a staunch free-market advocate, was appointed by President Donald Trump to lead the FHFA in 2019.
The FHFA is the federal agency responsible for managing the Federal Home Loan Mortgage Corporation, also known as Freddie Mac, and the Federal National Mortgage Association, also known as Fannie Mae — meaning it has far-reaching power over mortgage markets.
Calabria acknowledged that he is being replaced after Wednesday's ruling and said that he respects the Supreme Court and Biden's decision. The director said it has been "an honor of a lifetime" to serve in the role and touted the work that the FHFA has done during the COVID-19 pandemic.
"However, much work remains," he said. "When the housing markets experience a significant downturn, Fannie Mae and Freddie Mac will fail at their current capital levels. I wish my successor all the best in fixing the remaining flaws of the housing finance system in order to preserve homeownership opportunities for all Americans."
The Wednesday ruling sent shares of Freddie Mac and Fannie Mae into the gutter. Fannie Mae dropped more than 32%, and Freddie Mac plummeted more than 31% upon the news.
(Excerpt) Read more at washingtonexaminer.com ...
COME BACK, PRESIDENT TRUMP.
I miss my mean tweeting, man spreading, room owning President…
Somebody explain this please.
obiden, knee pads & nobamas - deep staters plan all along - trash America at ever turn - continues! TRASH THEM ALL!!
“The court’s 7-2 decision affirmed a lower court ruling that the FHFA leadership structure, which was created in 2008 with a single director who was fireable only for cause, was unconstitutional because it did not abide by the separation of powers doctrine.”
This is attributed to George Orwell, author of “1984”:
“People sleep peacefully in their beds at night only because rough men stand ready to do violence on their behalf.”
If 1984 IS HERE, how long before those rough men stand at YOUR door, ready to do violence to YOU on behalf of the Democrats.
It means pResident Biden gets to appoint a hard-left rubber-stamp as head of FHFA, which means, undoubtedly, that mortgage loans will be handed out like candy to people who don't have the ability to repay them, all in the name of "fairness."
Basically, it's 2007-08 all over again - on steroids.
Yes indeed!
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