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Thursday, October 31, 2013

CORKER: A TECHNOCRAT – NOT A POLITICIAN – SHOULD LEAD FHFA

Senator Bob Corker Press Release:

U.S. Senator Bob Corker, R-Tenn., a member of the Senate Banking, Housing and Urban Affairs Committee, made the following statement after voting against a procedural motion to move forward with the nomination of U.S. Congressman Mel Watt, D-N.C., to lead the Federal Housing Finance Agency (FHFA). In a 56 to 42 vote, the Senate failed to get the 60 votes required to proceed.
“I have said from day one that a technocrat, not a politician, should lead the FHFA, the regulator charged with overseeing the $5 trillion portfolios of Fannie Mae and Freddie Mac,” said Corker. “I hope the president will nominate a qualified technocrat with the expertise to play a constructive role in winding down Fannie and Freddie and modernizing our housing finance system.” 

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