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Fannie Mae: Former Staffer Behind FMIC Goes To BlackRock

ValueWalk, By Michael Ide

You may remember there was a bit of controversy last April when it came out that the Corker-Warner bill to replace Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) with a new government agency was largely written by former Countrywide Financial exec Michael Bright, now working as Senator Bob Corker’s senior financial advisor. Corker-Warner has since morphed into Crapo-Johnson, which kept the same basic framework in place, but critics still argue that Crapo-Johnson’s proposed FMIC would benefit Wall Street at the expense of smaller banks and homeowners.

 

Read full article: Fannie Mae: Former Staffer Behind FMIC Goes To BlackRock