Courtesy of Bruce Krasting.
Edward De Marco is the acting head of the FHFA. He is responsible for what happens at Fannie and Freddie. A lot of people hate this guy and want to see him sacked. I like him. I think he is one a few people in D.C. who actually gives a damn about taxpayer losses at the mortgage agencies.
As per usual in America, this is a matter between left and right. Democrats hate De Marco. The Republicans are standing behind him.
The latest saga in this love-hate story is a letter that De Marco wrote to Senators Richard Shelby (R -AL) and Tim Johnson (D – SD). (Link) The issue is whether Fan and Fred should write down the principal on mortgages they own. De Marco said flat, “no”. The following is the critical sentence. Note that De Marco uses “I” when he says who made the decision. I give him an “A” for putting his head on the line.
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