Mel Watt Confirmed By Senate To Lead the Federal Housing Finance Agency

Mel Watt

We applaud the Senate for confirming Congressman Mel Watt to head the Federal Housing Finance Agancy. Watt was confirmed on a vote of 57 to 41 vote and his confirmation was made possible because of the imlementation of the nuclear option - - changing the Senate rules to allow majority vote instead of 60 votes (invoking cloture--to end debate).

Congressman Watt has 40 years of experience in the housing sector and we believe he will be instrumental in solving the problems that plague Fannie Mae and Freddie Mac.