Another big week is shaping up. The new director of the FHFA, Fannie and Freddies conservator will break his long silence and speak publicly about Fannie and Freddie. This is a live webcast hosted by the Brookings Institution. A few key things to know; Watt’s voting record consistently ranked as one of the House’s most liberal. Last year the ACLU gave him a 100 percent rating; the American Conservative Union, a 0.-Republicans in the senate refused to confirm Watt to this post.- Obama utilized the nuclear option in the senate to ensure Watt could assume command of the FHFA.- In two letters submitted to the Senate Banking Committee a few weeks ago the National Urban League, the nation’s largest historic civil rights and urban advocacy organization, warned leaders of serious concerns regarding proposed housing reform legislation and of the organization’s plans to mobilize against it unless it includes provisions ensuring that working and middle- class families have access to affordable homeownership.- In 2004, Ralph Nader attended a meeting with the Congressional Black Caucus, at which Nader clashed with members of the caucus over his presidential bid. After the meeting, Nader alleged that Watt twice uttered an “obscene racial epithet” towards him. It was alleged that Watt said: “You are just another arrogant white man — telling us what we can do — it’s all about your ego — another fucking arrogant white man.” Although Nader wrote a letter to the Caucus and to Watt asking for an apology, none was offered. All of this coupled with the recent defection of the 6 more liberal members of the committee that will vote on the Johnson/Crapo bill on Thursday I think you can see where this is headed. I am sure Watt will do whatever Obama wishes, and I will be surprised if he makes any overt comments regarding releasing Fannie and Freddie I am told there may be some thinly veiled hints.He has been set up to take the reins once Johnson/Crapo is officially declared dead.
The vote on Johnson/Crapo will be Thursday, no surprise here right folks. I will post more on this the next few days. Keep the faith!