Wednesday, June 04, 2014

More Obozoism: Mel Watt

Seems that the Director of the Fed Housing Finance Agency (FHFA) has a serious case of Obozoism, which is, essentially, "Not My Job".  Fortunately, Watt's Obozoism won't cost lives, like Benghazi or deserter-rescues.

But it will cost Americans a lot.

As voices across the ideological spectrum have come to recognize the need for serious reform of our housing finance system with a greater role for private capital, the nation’s top housing regulator made an unfortunate revelation.  A revelation which points to the difficult path for serious housing reform.  Mel Watt, newly installed Federal Housing Finance Agency (FHFA) director and top regulator of mortgage giants Fannie Mae and Freddie Mac, says that reforming the unfair housing finance system and protecting property rights is not part of his job description.

 “My responsibility in the conservatorship is not to the shareholders, really.  So I don’t lay awake at night worrying about what’s fair to the shareholders,” Watt said in a recent interview on C-SPAN’s “Newsmakers”....

Well, it's only money, after all.

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