Fannie Mae-No Politics (FNMA)

[10bambam]

WASHINGTON — Vice President Joe Biden swore in former San Antonio Mayor Julian Castro as secretary of housing and urban development yesterday, completing the formalities of a post many see as a platform for a potential vice presidential bid.

The ceremony in the Indian Treaty Room of the Eisenhower Executive Office Building next to the White House came a week after the newly minted cabinet member dined with Bill Clinton, fueling speculation about a slot on former first lady Hillary Clinton’s expected White House ticket in 2016.

Castro, 39, has been on the job at HUD since July 28, when Chief Judge Richard W. Roberts of the United States District Court in Washington administered the oath of office at agency headquarters.

Yesterday’s swearing-in with Biden, himself a potential 2016 presidential aspirant, will be followed this week by Castro’s “Opportunity and Investment” tour in Chicago and Gary, Ind.

Castro becomes HUD’s 16th secretary and the first Latino to lead the agency since Cuban-born Mel Martinez was appointed more than a decade ago by President George W. Bush.

Castro took the oath with his wife, Erica Castro, holding the Bible.

Castro’s daughter, Carina, stood in front of her mother, holding a brown-and-black stuffed version of the vice president’s dog, Champ, which Biden customarily gives to children at events he attends.

Castro faces serious issues as HUD secretary, including building up the system of government support of home mortgages, which took a battering in the 2008 recession. Castro will be a key player in deliberations on the future of mortgage giants Freddie Mac and Fannie Mae.

But in the political world, the HUD post is viewed as little more than a bus stop for a young, up-and-coming figure whose Texas origin and Mexican-American roots are key assets for the Democratic Party.

Castro’s dinner with Bill Clinton at the Clintons’ Washington home this month sent speculation into overdrive that the former San Antonio mayor will be on Hillary Clinton’s vice presidential short list, should she become a candidate in 2016.

But political pundits say that although Castro’s star is rising, he is far from a shoo-in.

http://www.dispatch.com/content/stories/national_world/2014/08/19/castro-takes-oath-as-16th-hud-secretary.html