Fannie Mae-No Politics (FNMA)

[YanksGhost]

The regulatory function was hopelessly mismanaged under OFHEO and was one of the key drivers of the conservatorship... a fact that gets rarely mentioned, anywhere. In the midst of a brewing housing crisis, Lockhart suspended about 1/3 of the GSEs capital requirements in March, 2008. Then, 6 months later, declared they were undercapitalized. DUH! Then he suspended ALL capital standards and set in motion the looting of ALL capital under his, DeMarco's and then Watt's regimes @ FHFA.