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DeMarco prepares for final shutdown of GSEs


By golfplan18   Follow   Fri, 8 Mar 2013, 9:51am PST   239 views   1 comment
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http://ochousingnews.com/news/demarco-prepares-for-final-shutdown-of-gses?source=Patrick.net

Of all the people who’ve played a role in the housing bubble and its aftermath, the one who continually impresses me is EdwardDeMarco, conservator for the GSEs. He is a career bureaocrat who was placed in charge of the GSEs when they were taken into conservatorship in 2008. He has steadfastly protected the interests of taxpayers much to the chagrin of politicians on both the left and the right. The left hates him because he refuses to give loanowners free money through principal reductions. The politicians on the right who’ve sold their souls to banking interests don’t like him because...

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bgamall4   Mon, 11 Mar 2013, 4:46am PDT   Share   Quote   Permalink   Like   Dislike     Comment 1

Patrick, I maintain that this guy, Demarco, is lying. He says he wants to end government involvement in the GSE's and wind them down. However, Ben Bernanke has said that there will be a government backstop to mortgages, whether GSE's exist or not. That is the sad truth. Houses would be worth a dollar if he didn't stand behind that or make the government stand behind that. Bernanke is in charge.

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