I see the republicans immediately wheeled Ed Demarco the former regulator of the FHFA who was appointed by George W Bush wasted no time rebutting Mel Watts comments today and of course it was immediately published by the Wall Street Journal/Enquirer. How fitting that he was addressing a banking conference. Heres an excerpt from their article–Mel Watt, the new director of the Federal Housing Finance Agency, signaled a clear pivot on housing-finance policy in his first public speech Tuesday morning. A few hours later, his predecessor, Edward DeMarco, offered some parting reflections on housing policy at a banking conference in Charlotte, N.C. Their views could not have been more different.In his talk, Mr. DeMarco made an impassioned plea to abandon the housing-finance system dominated by Fannie MaeFNMA +7.78% and Freddie MacFMCC +6.90%, the companies he oversaw as the FHFA’s acting director for the past five years. “Rather than striving to preserve a system that failed so spectacularly and in so many ways, we need to find our courage and our creativity to build a new system,” he said in prepared remarks.” How the Journal can spin this news to be bad for investors is outrageous. They are letting their political beliefs get in the way of accurate reporting. They obviously take their readers for fools. Quite a contrast from what we deliver here! Keep the faith!