Ed DeMarco has been called the “biggest roadblock to our economic recovery,” and it's time for him to go.
DeMarco, the Acting Director of the Federal Housing Finance Agency, was appointed four years ago by President Bush to oversee the organizations that control more than half the mortgages in the country. Since then, he has blocked fair and needed actions that would jumpstart our country’s economic progress and help millions of families who suffered after big banks crashed the economy.
The national press is abuzz this week with news of Obama’s nomination of Mel Watt, a Democratic Representative from North Carolina, to replace acting Federal Housing Finance Agency Director Ed DeMarco.
*** See Timeline Of Actions Here: http://www.newbottomline.com/timeline ***
New Bottom Line’s 16-Month Campaign Takes Giant Step Forward To Removing:
“The biggest roadblock to our country’s economic recovery”
Since early 2012, New Bottom Line has driven the campaign to get President Obama to dump Ed DeMarco, acting director of the Federal Housing Finance Agency. Today, the organization celebrated the news that the president finally made a nomination for the permanent director of FHFA. New Bottom Line also urges Congressman Mel Watt to support principal reduction at Fannie Mae and Freddie Mac in his new position, as well as supporting the vital role they play in ensuring homeownership and rental housing opportunities for all communities.
500 National People's Action members delivered a sample resignation letter to Ed DeMarco on Sunday afternoon. Mr. DeMarco didn't answer his door when NPA knocked, but we're pretty sure he got the message that it's time for an FHFA director who will stand with the American people!
Washington CAN! homeowners dropped a banner in Downtown Seattle on Thursday, April 18th during rush hour to show Seattle that it's time to Dump DeMarco!
Desert Storm veteran Mark Harris held a Candle light vigil and prayer service at the home of Catherine "Candy" Lasher, the regional director of Fannie Mae on Wednesday, April 10th in Atlanta, Georgia.