The Man Who Took on Fannie Mae

The Wall Street Journal - July 14, 2014

The Wall Street Journal

Friday, July 11, 2014, By Mary Kissel

He was a career bureaucrat who fought to protect American taxpayers, battled to reform potentially disastrous policies, and championed fiscal responsibility. Edward DeMarco was the loneliest man in government.

As the acting director of the Federal Housing Finance Agency from 2009 until January of this year, Mr. DeMarco might have assumed that his task at the FHFA was to help reform housing policy so it could never again play a central role in a financial meltdown, as it had in the 2008 crisis. He began working to rein in the federal mortgage-insurance giants Fannie Mae FNMA -0.25% and Freddie Mac, FMCC +0.25% which had been bailed out with $188 billion in taxpayer dollars, and he worked to stabilize and reform the housing market.

Read Full Article: The Man Who Took on Fannie Mae