David Broder; Why Would Anyone Ever Listen to Him
There is not a more fence straddling, milque toast, political columnist than David Broder. His approval of this congressional idea to force the GSE’s to provide more money for low income housing can only mean it is a stupid idea.
“It has been 10 years since the federal government put any substantial sums into building affordable housing for families, but last week a glimmer of hope appeared from an unexpected source. A bipartisan bill emerged from the House Financial Services Committee that could generate $400 million a year or more for low-income housing.
The measure's main purpose is to provide new, more-stringent regulation for the two giant government-chartered mortgage finance agencies, best known by their nicknames, Fannie Mae and Freddie Mac. Their mandate is to increase the availability of housing. These GSEs, or Government-Sponsored Enterprises, got into hot water because of their accounting practices and Congress has been figuring out how to keep closer tabs on them.
When the bill was being drafted last week, the two key Republicans, Ohioans Michael Oxley and Robert Ney, the chairmen respectively of the full committee and its housing subcommittee, decided that to lock in Democratic support, they would include a proviso from the committee's top Democrat, Rep. Barney Frank of Massachusetts, to earmark 5 percent of Fannie's and Freddie's annual profits for preservation, rehabilitation and construction of low-income housing.”
“It has been 10 years since the federal government put any substantial sums into building affordable housing for families, but last week a glimmer of hope appeared from an unexpected source. A bipartisan bill emerged from the House Financial Services Committee that could generate $400 million a year or more for low-income housing.
The measure's main purpose is to provide new, more-stringent regulation for the two giant government-chartered mortgage finance agencies, best known by their nicknames, Fannie Mae and Freddie Mac. Their mandate is to increase the availability of housing. These GSEs, or Government-Sponsored Enterprises, got into hot water because of their accounting practices and Congress has been figuring out how to keep closer tabs on them.
When the bill was being drafted last week, the two key Republicans, Ohioans Michael Oxley and Robert Ney, the chairmen respectively of the full committee and its housing subcommittee, decided that to lock in Democratic support, they would include a proviso from the committee's top Democrat, Rep. Barney Frank of Massachusetts, to earmark 5 percent of Fannie's and Freddie's annual profits for preservation, rehabilitation and construction of low-income housing.”
posted by Little_Silvered at 8:53 PM
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