
My hero, Ed DeMarco, is on his way out as head of the FHFA that runs Fannie Mae and Freddie Mac, the GSEs. Ed DeMarco is a tragic figure who showed how difficult it is in Washington to do the right thing (see: Head of GSEs Edward DeMarco faces replacement, unfortunately). His actions in looking out for the best interests of taxpayers put him in the firing line of pandering politicians on both sides of the aisle. The left assailed him for refusing to give free money to loan owners. His opposition to principal reduction prevented politicians from buying votes with taxpayer money. The right wanted him removed because he vigorously pursued banks for buy-backs on the bad loans they…[READ MORE]