After President Obama officially nominated Rep. Mel Watt, D-N.C., to head the Federal Housing Finance Agency and replace the current acting FHFA director Edward Marco, Frank and Brian look into this decision by the administration in the latest National Real Estate Post video.
The guys explain that on Dec. 11, 2010, the House was set to vote on a bill to make broad changes in how Wall Street and financial firms are regulated. But two days before this vote occurred, Watt held a campaign fundraiser which generated checks largely from these financial institutions which he was voting on.
Is this ethical behavior for someone selected to oversee the functions of the government-sponsored enterprises that have a mortgage pool of approximately $5 trillion? The video can be viewed by visiting
