This page has been archived and commenting is disabled.
In Whose Pocket Is The New Head Of Fannie And Freddie?
Following the earlier reported devastating news for Mark Zandi fans (all one of them, including Mr. Zandi himself) that the Moody's economist/ADP seasonal adjuster, will not be the next head of the GSEs, and instead that privilege will go to North Carolina Democrat Mel Watt, we decided to take a quick look in whose pocket the career Congressman (elected into congress in 1992) truly lies. We are delighted to announce that with Mr. Watt's lobbying dollars coming almost exclusively from Wall Street, Lawyers/Law Firms, and Labor Unions, the $7+ trillion in US mortgages, and sole source of mortgage creation in the US, is in "very good", if just a little conflicted and quite socialist, hands. Mortgage forgiveness-demanding, crony capitalist comrades of the world, unite! (while charging $1000/hour)
Mel Watt's biggest career contributors by industry:

Mel Watt's biggest career contributors by company:

Source: OpenSecrets
- 12742 reads
- Printer-friendly version
- Send to friend
- advertisements -


Long live the Brother!
Boy, do I hope this guy lives up to his full potential. By full potential, I mean ass and mouth rape residential real estate.
He kinda looks like Eddie Murphy.....let's hope he's that smart.
watt's his name? never heard of em.
Sure he won't be half assed, but full ass stoopid like the rest fo the bunch.
Why does he look like a corrupt aparatchik from a third world country?.
Affirmative Action
The goal is to keep it all going. Nobody gets paid if it all stops.... /sarc
Who’s yo daddy?
And Trayvon could have been his son. These are troubling times.
Remember how great things turned out the last time we had a black guy in charge of Fannie?
I feel like an orphan in a movie that ends badly ...
http://cdn.hark.com/swfs/player_fb.swf?pid=nvntctzvth
<grabsPopcorn/>
Regards,
Cooter
Congressman Melvin Watt lists on an amended August 2012 financial disclosure statement that he is a 25% owner and a Director of Westside 2000, Ltd., showing a reported value of $15,000-$50,000. This partnership also lists former Charlotte NC mayor Harvey Gantt and prominent NC attorney John W. Gresham as being involved, among others.
Westside 2000, Ltd owns a number of real estate parcels according to Mecklenberg County public records, a few unencumbered by debt. In 1997, the group bought a landmark Charlotte property for $2,000,000 and sold it six years later for $4,200,000. It was sold to a controversial church group called United House of Prayer under the entity Madison Saints Paradise, LLC.
My question to Congressman Watt is, why do you place such a low value range on a partnership which clearly has assets that are worth in excess of your disclosure? As a follow up, what is your relationship with UHOP, which has vast holdings in real estate?
Developing.
http://www.legistorm.com/showPdf/ls_disclosure-member-2012-annual-amendment-524.pdf
http://www.accessmylibrary.com/coms2/summary_0286-5567801_ITM
http://www.churchcentral.com/article/1014/Church-buys-landmark-cafeteria-hotel-for-4-2-million
http://www.gpo.gov/fdsys/pkg/CRECB-2001-pt20/pdf/CRECB-2001-pt20-Pg28030-2.pdf
i have watched this guy...the only person dumber them him is maxine waters
"I need, Don Watteone, all of those Wall Street bankers and NAR 'economists' that you carry around in your pocket, like so many nickels and dimes."
http://images3.wikia.nocookie.net/__cb20090703114510/godfather/images/1/...
no /sarc necessary. that's exactly the prime motivation for keeping it all going.
had the same thought
Exactly, his district was the most gerrymandered of our time, at one point it was no wider than the interstate highway, which it followed from one urban area to the next. He is the poster child for corruption.
If Obama had a brother
He's an Oreobama clone.
Looks like a bruthuh on the outside, but his mind is controlled by Da Man.
James Brown's Revolution of the Mind never reached this banksta errand boy.
Obama, Holder, this guy? The brothers ain't painting a good picture of the brothers!
Mel was a member of the CONGRESSIONAL BLACK CAUCUS He is all for opening the floodgates .. again. Mega sleeze!!
Mel was a member of the CONGRESSIONAL BLACK CAUCUS He is all for opening the floodgates .. again. Mega sleeze!!
Looking forward to being able to buy a house without documentation for zero down and only $199 a month. 200 year lease.
Don't forget the cash (foodstamps)-back incentive at closing!
I can hear it now. "Democrats revitalize stagnant ownership statistics with housing campaign to feed and house the homeless -- "houses for the unemployed" program a huge smash." NEW GSE's Joker Mae and UHA (Underprivelaged Housing Administration) announced.
Make me laugh!
I am certain that once he is placed in his new position he will be fair and just in all his actions.
/sarc (just in case it wasn't obvious.)
Snark aside "the squid pro quo" for winning the cold war was "the Internet." in other words CD you and the rest of you wonderfully backassed cretins "the deal was cut...but the Government...we the people" got screwed. Think of the sacrifice during the Cold War folks...have we blown that victory already? Doesn't look pretty to me...and ominous signs from the Middle East. We still haven't had our whoops moment.
Looks like Holder- yet another backdoor dealing Inaction Jackson. Subprime loans to the whole Tribe with preinstalled Obamaphones, WE ARE SAVED
+1 for the avatar......
Hey, where'd you get that picture of my wife and her sister???
Word on the street is he got it personally from them after the happy endings........
The question that needs an answer IS HE A GAYBOB??
This assclown probably is in a gay marriage, owns no guns, has several illegal immigrants on his payroll, loves abortions, and is only interested in doing god's work. Well qualified
Is he doing Barney Frank????
Jeez, would you learn how to spell? It's Bawny Fwankththtp.
We needs more ghetto the voodoo that you do economics
This f**king guy is going to take subprime to a whole new level. Get ready for the mother of all bubbles in R/E.
Obama's total and complete inability to understand money and the economy just continues to amaze.
Well in all fairness, his economic experience was limited to reviewing his checking account balance on line.
'Obama's total and complete ability to understand his orders to destroy "money" and the economy just continues to amaze.'
FIFY...
Btw......U one fugly monkey......
oh you cheeky monkeys
What does Obama have to do with anything? The oligarchs understand money quite well. What we call money is debt that is loaned into existence with interest. Like any basic Ponzi scheme, the next round of debt must be larger than the one before it. Every sector must do their part. Apple is playing ball. Joe six pack is back on the horse. GSEs, all levels of govt, corporations, etc. Everyone is "all in". Someday this war is going to end
On the bright side of things, maybe this catfish will work to abolish/reform Dodd-Frank. He's got the banksters perdigree in spades.
isn't that exactly what the product placement boys want?
Franklin Raines II
No doubt.
Yen- I was trying very hard not to think that. Then you said it and, well, there it is.
jesus, I thought we already went through one
it'll be intersting to see that criminal market manipulation fighting against the joke of an economy where the no one can afford these things, afford to drive to these things, afford to pay taxes on these things, afford to expect appreciation on these things.....
Word, Yen Cross.
Mr.Watt looks like a thalidomide case to me. I expect he will be led by big brother's helping hands to get every ebt card holder to sign on the dotted line for a dream house or two. Maybe three.
Together with all the cash purchased real estate by the Middle and Far Easterners, expect prices to reach record highs and traders to start pimping MBS. One can only speculate which one will pop first; student loans or mortgages. Maybe both at the same time?
Picture of a smiling face that say's "I'm bout to get PAID!"
I love how much experience he has working through bankrupt companies and turning them around. Lots of business experience and business degrees, even some advanced business degrees. WOW this guy will blow it out of the water and get those agencys turned around pronto. /s
We must be at the bottom of the barrel when a congressman is the best suited person for the job. See how effectly they have turned the USA around from bankruptcy.
Dream maker, risk faker, wealth redistribution facilitator
Watt's district is the most Gerymandered district in the country. A political creation brought into being just to secure that this political hack has a job. A job kissing bankster butt, a talent he perfected on the Charlotte city council.
No doubt about the ever adjusting "district" of his. I remember looking at it before and noticing it's wide enough to jump across in places. Manages to squeeze in the metro areas pretty good though.
http://upload.wikimedia.org/wikipedia/commons/e/e8/North_Carolina_12th_Congressional_District_%28National_Atlas%29.gif
so...he's the quintessential politician?
He's a bought and paid for politician. He's been in Congresslong enough to collect a fat lifetime pension. So now he will get a Administrative position and will soon be eligibile to collect an additional pension. He will bow and scrape and do exactly what his masters on Tryon Street tell him to do. "Yes Masser. Just tell me how manny wothless derivitive you wants to dump on Fannie and Freddie an' weeze 'll just takes 'um right in!"
This appointment and the nomination of Charlotte's current mayor as Transportation Secretary (another never did a damn thing black professional politician) is just another payoff for the Obama worship fest that was the DNC convention in Charlotte last year.
Do these Charlotte guys have something on Obama that we don't know about?
Anthony Foxx has no qualifications what so ever for the job. How better to turn the department into an overnight disaster?
you got as pulse, you got a loan!!!
If they can get dead people to vote they certainly don't need them to have a pulse to get a mortgage...
PS. What's with the blatant admission of the 'American Assassination of Justice'? Didn't think they'd be admitting that...Holder must be off his chain.
it does mean death contract
just never realized it referred to the entire country
"You got's a pulse, you get's da loan!" (fixed it for ya')
Mel Watt, is gonna pay my mortgage !
When it Raines it poors[sic].
Zandi forgot that in this world of not discriminating based on race the "brother's" stick together (discriminate).
For a while there I was worried for Bernanke they might put someone with ethics and morals in the job.
No worries Ben, MBS purchases to benefit your banker overlords may continue unabated!
BEE EH SEE.
Duh.
he the one who went home and proudly told his mother that he had the biggest dick out of all the kids in pre-school.
He then ssked her if that was because he was black.
She answered "no, it's because you are 12 years old."
The appointment of this man is a joke and therefore deserved the joke.
Mel Watt
The name sounds like and the guy looks like a used car salesman.
Come on down to 4th and Jackson to see "NO MONEY DOWN MEL" for your next used car or mortgage!
Got no Money? No problem! Just bring us anyones old pay stub or your EBT card and QUALIFY!!!
Obamafermative action in full force.
if your credit smell, talk to Mel!
He's also the scumbag that bent and twisted the bill put up by Ron Paul and Grayson for the audit of the FED and eventually got his black brothers to back him.
What a disappointment of a man. Still doing his master's bidding.
Prison Face!!
Am I imagining things or is his surname an anagram of TWAT?
That’s right give the job to a politician. It’s just another dumping ground for political hacks. The biggest being Homeland Security.
In July 2006, the Office of Personnel Management conducted a survey of federal employees in all 36 federal agencies on job satisfaction and how they felt their respective agency was headed. DHS was last or near to last in every category including;
4/30/2013
The Department of Homeland Security is under investigation for purchasing large stockpiles of ammunition, days before legislation was introduced that would restrict the amount a government agency can legally buy.
Spot on. Meritocracy is a concept that does not apply to appointments at a high level.
Meritocracy is another word for "disparate impact" to these clowns.
Bozo bombers have taken over key levels of almost all oversized companies and government bureaucracies.Steve Jobs love him or hate him I think he is on the money about bozo explosion and that is what we are seeing big time here.
http://www.urbandictionary.com/define.php?term=Bozo%20Bomber
Someone who enables the Bozo Explosion, either intentionally or due to their inexperience and incompetence.
The Bozo Explosion was possibly coined by Steve Jobs at Apple:
"Actually, Steve believed that A players hire A players—that is people who are as good as they are. I refined this slightly—my theory is that A players hire people even better than themselves. It’s clear, though, that B players hire C players so they can feel superior to them, and C players hire D players. If you start hiring B players, expect what Steve called “the bozo explosion” to happen in your organization." -Guy Kawasaki
he's in the pocket of BofA, and those who control it. this appointment should tell you that BofA ain't gonna be the sacrificial lamb during the next culling.
This dude is okay
"On Wednesday,...Mel Watt urged coleagues to accept the recommendations of the US Sentencing Commission and eliminate the mandatory minimums for crack cocaine possession"
http://news.google.com/newspapers?id=Z_AbAAAAIBAJ&sjid=AVMEAAAAIBAJ&pg=6...
Which, of course, perfectly qualifies him to be the caretaker of Fannie/Freddie.
We're going to need all the crack cocaine we can get to survive the latest Summer of Recovery.
but mel, yes the "crack enhancements" have a 95+% impact on black defendants, I get it.
So why anything to defend "white" collar crime?
Nobody is talking about Diane Feinstein's husband getting the contract for the high speed train project.
http://www.breitbart.com/Big-Government/2013/04/30/Sen-Diane-Feinstein-s-Husband-Bags-CA-High-Speed-Rail-Construction-Contract
Same bullshit, different player.
Tyler please post the cronyism on this too.
train keep a rollin' all nite long
GAAH!!! I finally figures it out! She's Eric Holder's mom! And Blum is her male clone!
A cage without a door, not a door without a cage for the world's oldest Klepto-parrot!
So Diane, how does it feel to be married to the Dick Cheney of Speed Rail? Were there bids?
you can bet there are going to lower the amount of cash needed to get a loan...no money down for the "correct" tribe.....and location.....this is redistribution again....
Yep - Son of Subprime.
Bullish.
most likely, but they're gonna make it up by jacking up mortgage insurance premiums (actually they're already doing that).
in one end, out the other...
Why the need for cash?
Watt should wear a cape at his installation, with the Millenium Falcon in the background.
"This deal is getting worse all the time."
http://www.youtube.com/watch?v=WpE_xMRiCLE
+1 And this...at 6:50...
http://www.youtube.com/watch?v=ZfRHseYWQoY
haha, and this...
http://www.youtube.com/watch?v=IlR-I57nmr4
Now Available in Refundable Cans
another Pig in the Poke...I'm not surprised...but very sad.
Its pretty clear what the plan is - just need a house boy to oversee it.
does wachovia = colombians?
He will do exactly what he is told to do.......
He will do exactly what he is told to do.......
Expect a full return to NINJA loans later this year...
Here is what will happen - Fed prints money and gives it to big banks at nearly free rates, banks loan it out to everyone who can mark an X on a contract for mortgages at several times the rate that the Fed charges, big banks sell those to Fannie and Freddie under some new program designed to enrich banks and let them remove toxic loans.... But wait now... Didn't we already try this????
Looks like the evil HR boss on "Person of Interest".
Well, at least the people of North Carolina came out ahead on this by opening up his seat in Congress...
I'm disappointed....Maxine Waters would have been a better choice. She has far more experience and will get the job done!
This guy is out of Charlotte, NC. That means banks, mortgage banks. BOA and WF need to dump their mortgages some place and when the second housing bubble pops, that is exactly were the issue will fall
Mel Watt? Are you fucking kidding me? He's the one that fought tooth and nail against the "Audit the Fed" (Paul/Greyson) amendment to Dodd-Frank.
The true purpose of the oligarchs is to rule the world under an international socialist new world order; to achieve this they consider it necessary to destroy all religions, overthrow all government, and abolish private property.
The independence and primary value of the American middle class had been in their homes. But with the rulers push for a socialized big government economic model that value has rapidly been seized by the banking establishment.
It will be Watt’s job now to increase that holding and transfer the wealth away from Americans who would have favored a free enterprise economy based on property rights and freedom.
Obama is simply following Einstein's Theory of Insanity....
All of the excesses and over the tops of the welfare-state, open-borders Democrat Party are coming to Fannie and Freddie.
And the new appointment to guide the GSEs is Melvin L. Watt, elected by 79.6% or 247,591 voters in one of the top ten most contorted congressional districts, as a result of redistricting – North Carolina’s 12th District - and here’s some of the data:
House Judiciary Committee
Congressman Watt serves on the House Judiciary Subcommittees on Courts and Competition Policy, the Constitution, Civil Rights, and Civil Liberties Members, and on Commercial and Administrative Law.[9] [10] [11]
January 2012The website Open Congress tracks how often members of Congress vote with the majority of the chamber caucus. According to the website, Melvin L. Watt voted with the Democratic Party 93.7% of the time.
2012The District 12 General Election 2012 votes was Democrat Melvin I. Watt (Incumbent) 79.6% (247,591 votes), Republican Jack Brosch 20.4% (63,317 votes). Total vote: 310,908
And from On the Issues (excerpts):
Click here for 14 full quotes on Abortion OR background on Abortion.
Click here 5 full quotes on Budget & Economy OR background on Budget & Economy.
Click here for 18 full quotes on Civil Rights OR background on Civil Rights.
Click here for 7 full quotes on Corporations OR background on Corporations.
Click here for 4 full quotes on Families & Children OR background on Families & Children.
Click here for 4 full quotes on Gun Control OR background on Gun Control.
Click here for 25 full quotes on Health Care OR background on Health Care.
Click here for 7 full quotes on Immigration OR background on Immigration.
Rated 21% by the US COC, indicating an anti-business voting record. (Dec 2003)
Rated 0% by FAIR, indicating a voting record loosening immigration. (Dec 2003)
Rated 0% by USBC, indicating an open-border stance. (Dec 2006)
Rated 100% by the AFL-CIO, indicating a pro-union voting record.
Rated 100% by the AU, indicating support of church-state separation. (Dec 2006)
Rated 25% by NTU, indicating a "Big Spender" on tax votes. (Dec 2003)
Rated 83% by the CTJ, indicating support of progressive taxation. (Dec 2006)
Click here for 6 full quotes on Welfare & Poverty OR background on Welfare & Poverty.
http://www.ontheissues.org/NC/Mel_Watt.htm
Are you a holy roller?
Does your question imply that you do not comprehend the seriousness of this crisis and the depravity of forces that would put this man in a position of American economic destruction?
Romney, perhaps, would have given continued power to the banking cartel and those who would make more war. But with Obama, we receive continued and expanded power for the banking cartel, plus the communist overhaul of private property, free enterprise rights and a radical acceleration of Leftist social ideology.
It takes more than a holy roller to recognize the danger we're in; what kind of roller are you?
I would rather they be managed by a formula. People only corrupt things
Another ass clown that we dont' need.
correct me if im wrong, but didnt mel watt hold up the audit the fed bill a few years back?
also, he represents charlotte NC which is wall street south and home to Bank of Amerill Lynch CountryWide
fuckers
Yep, ever since the " mortgage forgiveness" was floated years ago, don't think that just because it's been shot down every time up to now that it's not coming. Like every other reg/law/ruling/etc. eventually it comes, like it or not. This one no exception.
I think I bought an after-market extended warranty for my Dodge Town & Country from that guy. He is really moving up in the world..........
This guy is exhibit A of jerrymandered congressional districts. When the red team had control of both state houses they created a congressional distict consisting of all the poor black neighborhoods along I-85. Now that the blue team controls both state houses for the first time in the state's history, Mel could see the writing on the wall. Time to cash in his chips as a Wall Street shill. Sadly none of his constituents have a clue.
Mel Watt is the greatest congressman ever elected by the great state of I-85.