Senator Bob Corker, R-Tn., member of the Senate Banking, Housing and Urban Affairs Committee, made the following statement regarding reports that President Obama will Wednesday nominate U.S. Congressman Mel Watt, D-N.C., to lead the Federal Housing Finance Agency.
"I could not be more disappointed in this nomination. This gives new meaning to the adage that the fox is guarding the hen house,” said Senator Corker. “The debate around his nomination will illuminate for all Americans why Fannie and Freddie failed so miserably.
“Before any nominee should be considered for this post, regardless of their qualifications, the administration should explicitly lay out how they will unwind these entities.”