|The man blocking America’s recovery|
by Katrina vanden Heuvel
He is the most powerful federal employee you’ve never heard of. Edward DeMarco has slowed the economic recovery with the stroke of a pen. His actions are costing taxpayers tens of billions of dollars, forcing millions of homeowners to lose their homes, and contributing to the falling housing prices that are a brake on the recovery.
Not bad for an obscure “acting director” who should have departed his position long ago.
Edward DeMarcoheads the Federal Housing Finance Agency (FHFA). He’s a temp, in office only because — no surprise — Senate Republicans, led by Richard Shelby (Ala.), refused even to allow a vote on the man President Obama nominated for the post.
And DeMarco is philosophically opposed to the common-sense solutions needed to deal with the housing crisis.