I Hope the Tea Party Doesn't See This

It appears that a member of the 'Grand Ole Party' has gone off the reservation. That would be Sen. Bob Corker, Republican of Tennessee who the other day introduced a bill that would wind down Fannie Mae and Freddie Mac over time (that part is okay) but wants to nationalize the privately managed MERS System. Corker's bill mandates that the Federal Housing Finance Agency establish "MERS 2" and incorporate a single national database for all mortgage title transfers, to be maintained and operated by FHFA. Next thing you know Sen. Corker will vote to raise taxes. Oh how the GOP has lost its way! Then again, maybe not. The other day the government run GNMA reported stellar earnings. Who knows -- maybe Uncle Sam can turn MERS into a real moneymaker. (What am I saying?)