Fannie Mae-No Politics (FNMA)

[obiterdictum]

Am I wrong in assuming what others have that President Trump can reorganize the Treasury and FHFA so as to effectively eliminate Watts post, and to do so by "promoting" him but removing his oversight of FNMA and FMCC?

By law, President Trump cannot directly and unilaterally reorganize the FHFA as an agency or its internal operations. A US President has no authority or power over the FHFA, its Director, mission or operations. The FHFA was created by Congress as an independent government agency through legislation - HERA 2008. - https://www.fhfa.gov/Government/Documents/GPO_Authenticated%20HERA.pdf - This congressional legislation and its provisions governs the FHFA. To change the FHFA, HERA 2008 must be amended or repealed by the Congress or declared unconstitutional by the Judicial branch.

There's more than one way to skin a cat, just ask an imaginative lawyer.

Imaginative lawyers, attorney generals, US Treasury, Congress and more have already tried and failed. The full record of the attempt is online. Some examples of original documents below.

See the 8 page memo from the NY State Attorney General Eric Schneiderman - https://justiceleaguetaskforce.wordpress.com/2013/04/13/ny-ag-schneiderman-memo-argues-obama-can-replace-demarco/

See: Attorneys General attempt to Oust to Oust DeMarco - http://www.nytimes.com/2013/03/18/business/economy/attorneys-general-press-white-house-to-fire-fhfa-chief.html

See article: 45 House Members Urge President to Nominate a Permanent Director of FHFA - http://democrats.oversight.house.gov/news/press-releases/45-house-members-urge-president-to-nominate-a-permanent-director-of-fhfa

See letter: - Letter from Secretary Geithner to Acting FHFA Director DeMarco on the Principal Reduction Alternative (PRA) Program - https://www.treasury.gov/connect/blog/Documents/letter.to.demarco.pdf

DeMarco completed his 5 year term.

If I were Watt I'd want to be rid of the twins as fast as possible before he becomes the scape goat for history books. Know that the administration would try hard to pin bad decisions on the person least likely to win a battle of wits.

Who knows what moves in the mind of Melvin Watt?