FHFA Director Loots Fannie Mae, Heads to Cayman Islands

FHFA Mel Watt

FHFA’s Watt: “Thanks, Judge Lamberth!”

Bud Fox News has learned that Mel Watt, the director of the Federal Housing Finance Authority (FHFA), invoking Judge Royce C. Lamberth’s recent high-five to big government in his decision in a DC District Court case (Perry Capital LLC v. Jacob Lew, Secretary of Treasury), has done a cash sweep of his own, swiping all of Fannie Mae’s (ticker FNMA) excess cash and heading to the Cayman Islands.  Said a FHFA employee who asked to remain nameless:  “Right after the decision was announced [Monday, September 29], Mel called me into his office.  He had an open bottle of champagne on his desk, and he handed me a glass as soon as I walked in.  He said a celebration was in order because of the Lamberth decision.  At the time, I didn’t quite realize what he meant.” Continue reading