I just wanted to take a moment to check in after our momentous day yesterday.I’ll remind everyone that our situation is highly politicized. As far as how this will play out from here will be based strictly off political calculations. This goes for our allies and opponents. We had to expect the Republicans to take one last stab at trying to eliminate Fannie and Freddie. They like anyone knowledgeable on this issue know full well that housing reform stands no chance of passing the house and senate. Their only motive for pressuring Watt as they did yesterday was to try and run out the clock until 2016 when a potential Republican president would surely kill off Fannie and Freddie.The democrats have resounding rejected their plot.
Director Mel Watt, Senator Tim Johnson and several other Democrats have bravely come forward and publicly made it very clear that they are with us. They have awoken to the truth and will not let Fannie and Freddie and all they do to ensure that Americas housing market is available to all Americans perish. I hope to do a post soon documenting just why the mandates that come with Fannie and Freddie must survive. Folks there is a reason, so many of our Minorities are clustered in the inner cities, many forced to rent in third world like conditions. People like me who have chosen to fight for them are not “living in the last century” as our opponents falsely claim. Our government refused to allow banks to issue mortgages to minorities until 1968 and it was years later that banks had to be forced by law to comply.The mandates that are tied to Fannie and Freddie are the results of decades of hard-fought gains and must not be sacrificed. Once you know the truth about the tragic history of housing finance and minority Americans you will understand.Those who have lived it have the scars to not allow them ever to forget.
As I have said before we have not embarked on this quest to see how many friends we can make. We are here for one purpose, to ensure that the entire truth about Fannie and Freddie and all they have done for America is known. We have not wavered from this goal nor will we ever.Folks this is a very complicated issue and can be tough for even many experts to navigate between the political and legal sides of our battle.The legal end of our struggle has been greatly reduced as we have witnessed the massive public shift politically. I hope many of the things I have said over the last several months are much clearer now. I hope you understand why I have been pushing so hard for the “Summary of Truth”. We have assured the democrats that we will stand by their side and continue to provide all the assistance we can to help bring about the release of these two irreplaceable American Institutions. We have vowed to combat the river of lies that some of our opponents still continue to spread.
Mel Watt did not show up at the Senate banking committee yesterday with any intention to discuss the release of Fannie and Freddie, it was not quite time for that yet. But when aggressively pressed by our opposition in the Senate and the media he did not give them the answer they were hoping for. He largely extinguished the last shred of hope our opposition had left. He also provided those of us fighting tirelessly to save Fannie and Freddie with the hope we have been seeking to share for months. This has been one of the hardest tasks I have ever undertaken, but also one of the most rewarding.
I have gotten to know many of you in the last year, and I must say that I am humbled by the dedication to the truth that so many of you have conveyed. We come from all walks of life and a broad spectrum of political beliefs but in the spirit of truth we have been able to transcend our petty differences and unite in this epic quest.None of us are perfect but together we make a perfect team. We stand at the gates of victory and must prepare for the final phase of this war.
Remember the truth never surrenders and always Keep the Faith!
We will be adding a link to our all important “Summary of Truth” at the end of every post from now on. : https://timhoward717.com/summary-of-the-truth/