Fannie Mae-No Politics (FNMA)

[obiterdictum]

1. Almost without exception, each conference, roundtable or forum was stacked with participants that had a biased or selective view of the issues discussed. This was mainly due to the sponsors who invited the participants. The Zillow Housing Forum was probably the most diversified in terms of participants. The Bipartisan Policy Center, Financial Services Committee roundtable, Nader Shareholders conference and others were clearly on one side or another.

2. Conferences, roundtables and forums are not commissions. These are one hour plus discussions among peers, where people sit and talk and argue for their opinion and against other opinions.

A commission does work to actually define the history, context issues and challenges in housing finance, present the current situation in a factual manner and propose the necessary requirements for resolution along with clear and actionable recommendations.

The last commission formed was the Financial Crisis Inquiry Commission - https://fcic.law.stanford.edu/ - a commission is quite different than talking heads on a stage.

Here is their work product

Press Release
http://fcic-static.law.stanford.edu/cdn_media/fcic-news/2011-0127-fcic-releases-report.pdf

Report
http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_full.pdf

A comparable work product from the conferences, roundtables and forums is non-existent.

3. A commission would take the burden off legislators who are incapable of thinking this through to the best outcome for the American people. So, it would be a relief to have a commission.

Of course, the extreme left and right legislators would not want this since their views would be eliminated at the outset since they already offer identifiably biased solutions. Others may find this attractive since all can talk from the commission's work rather than their own ill-informed positions.

If the commission is given the responsibility to produce an analysis and plan for housing finance reform that is both public and mandated to be seriously considered, not to consider and follow it would end up in the same circumstances we have now.

This is precisely what happened with the work of the Financial Crisis Inquiry Commission. It is all there, clearly spelled out in 2011 and the legislators still stick to wearing the political and personal blinders that let them see and do only what the blinders allow.

The media and public need to gang up on the legislators and do some work to make things known or we all fall prey to further Capitol Hill manipulations.