The fact is that he increased from 6% to 8% the minimum rate of the risk-weighted assets secretly and for no reason. He just justified the $25 billion increase in the Capital needs of the single-family UPB, pointed out that it was due to the floor in the risk weight (so, a lie) and it was imposed because it was very low compared to "Basel and the U.S. Banking framework" and due the rhetoric to "boost the safe and sound operations", that can be used as alibi for many conspiracies. He can force FnF to buy 3-layer toilet paper for their safe and sound operations as well!
He didn't mention that the bulk was due to the increase of the rate from 6% to 8%.
He lied in an official document and he must resign.
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