IU Member’s Letter to Editor Cuts to the Chase on Corker’s Grudge Against GSEs

We’ll let this letter to the editor of The Tennessean speak for itself with regard to Sen. Bob Corker’s recent revealing and out-of-bounds comments on CNBC:

To the Editor:

Corker biased on GSE reform

After watching the interview Sen. Bob Corker, R-Chattanooga, gave to CNBC on Oct. 7, it is obvious that he has lost all objectivity in regards to government-sponsored enterprise (GSE) reform.

Sen. Corker appears to be obsessed with a handful of hedge fund managers that own stock in Fannie Mae and Freddie Mac. Corker’s crusade is to punish a few at the expense of tens of thousands of common shareholders.

To witness a sitting senator call for investors to short sell a stock on national television is mind boggling.

To make matters worse, that same senator also is actively engaged in creating legislation pertaining to those same stocks.

That is at best foolish and at the worst, illegal.

It is abundantly clear that Sen. Corker is allowing his personal grudges to trump the important process of GSE reform.

If Sen. Corker cannot set his personal feelings aside, he should resign his position with the Senate Banking and Finance Committee immediately.

Daniel Hutcheson