Former FHFA Director Stunned at Length of Conservatorships
September 14, 2018
James Lockhart, the Federal Housing Finance Agency director who headed the regulator when the government takeover of Fannie Mae and Freddie Mac occurred in September 2008, told Inside The GSEs he never dreamed the conservatorships would last a decade. “We thought it might go a couple of years and Congress would act,” he said. Lockhart added philosophically: “Perhaps, the conservatorships worked too well.” Lockhart, who eventually became a vice chairman of WL Ross & Co., and played a key role in that firm’s mortgage-related investments, said he’s happy that the two are now steadily profitable. But he...
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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