Michael Bright co-wrote the Fannie Mae, Freddie Mac reform bill The mortgage derivative trader turned consultant/lobbyist who co-wrote the Johnson-Crapo bill is named Michael Bright. He was the senior financial adviser to Sen. Bob Corker, worked as a member of the loan-pricing desk at Countrywide Financial until 2006, and as a senior trader for Wachovia from 2006 until the financial crisis of 2008.
Records show that Bright became a member of Corker’s staff in 2010, and was an influential voice in crafting the initial Corker-Warner housing reform bill as well as the current legislation based on it.
According to Tim Pagliara, a Republican political operative who has taken an active stance against the bill that would eliminate Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC). “[Bright’s] running the show. And Corker listens to him.”