Ed DeMarco | Meet the Man Standing in the Way of Fixing the Economy

Ever heard of Ed DeMarco? Most people don’t know the name of the career bureaucrat who serves as Acting Director of the Federal Housing Finance Agency and oversees Fannie Mae and Freddie Mac. Between the two, Fannie and Freddie own or guarantee over half the mortgages in the country, making Ed DeMarco the most powerful man in housing.

DeMarco’s job is to do everything in his power to help Americans avoid foreclosure, but he has repeatedly sided with Wall Street and blocked requests from Congress and the Obama administration to help struggling homeowners by reducing principal on loans to fair market value.1

But here’s the good news: Next week, during Congress’s recess, President Obama has the opportunity to make a recess appointment and replace DeMarco immediately. Let’s ask the President to do just that.

Tell President Obama to replace Edward DeMarco with a new director that won’t stand in the way of relief for homeowners.

Reducing principal on underwater mortgages to fair market value could create a million jobs and inject billions of dollars of badly needed revenue into the economy.2 Principal reduction has also been touted by economists and U.S. government officials as the best way to help homeowners who are underwater on their mortgages. With so much at stake, why is Ed DeMarco standing in the way of economic recovery and relief for struggling homeowners?

But it doesn’t end there.

A recent news investigation revealed that, under DeMarco, Freddie Mac invested billions of dollars in Wall Street securities that bet against homeowners’ ability to refinance their loans, while at the same time raising fees that made it harder for homeowners to refinance.

Let’s be clear: DeMarco isn’t just doing a bad job. He is actively working against the interests of American homeowners and the government’s efforts to help them. That’s an outrage, and it’s time for President Obama to replace him.

Can you sign the petition to President Obama to replace Ed DeMarco & replace him with somebody committed to helping families and communities?

With enough signatures, we can send a message to President Obama and remove a major obstacle in our mission to get justice for homeowners.

Thanks for all that you do,

PICO National Network

1 http://blogs.reuters.com/felix-salmon/2011/11/16/ed-demarcos-obstructionism/
2 http://www.piconetwork.org/documents/win-win.pdf

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4closureFraud.org

Comments
5 Responses to “Ed DeMarco | Meet the Man Standing in the Way of Fixing the Economy”
  1. readdocs says:

    What you’re seeing through this non translucent adminstration is all the dynamic transformation
    of our nation of individual rights into a nanny/socialists state where the taxpayer is not allowed any
    rights other than reporting to work to pay higher and higher taxes so the elites can continue their
    insane spending spree.

  2. ChrisYAHanWatcher4YAH says:

    The Banksta’ Gangsta’s: Thief in Chief, Is NOT going to replace His aidder and abbetor / Co-CON-spirit-or, and EsStoppel the Biggest CRIME in History! LooTing of American, and likely the GLOBE: “Just U.S.P.I.G.S.!”

    Wye: He’ll be: “Mr. BIG’er than: Alfonse Capone,” and a “Prince of Thieves” amongst the Chicago MOB’s Felonious Illiterati, [and C.I.A. Black Ops, private CONtractors,] Globally!

    Looting The WEALTH of the WORLD is sure to render Him In-Famous at least! [His father SATAN; will be Proud!]

    • lvent says:

      YEAH RIGHT ON CHRIS…!!!! .THE #1 SWINDLER AND TRAITOR IN CHIEF…..! THAT IS THE WHOLE TRUTH, THE ONLY TRUTH SO HELP US GOD…..THAT WE THE PEOPLE HAVE NOT ONLY WITNESSED THE BOLD ACTS OF TREASON BY CATCHING OBAMA BOLD FACED LYING AND DECEIVING THE AMERICAN PEOPLE FOR THESE GLOBALIST CROOKS….THEREFORE OBAMA IS..ALLOWING THESE CRIMINAL IMPOSTERS AND TRAITORS AT FANNIE MAE, FREDDIE MAC AND THE UN FEDERAL RESERVE BANK TO CONTINUE THEIR ONGOING ROBBERY OF OUR WEALTH AND ASSETS AND HIDE OUR STOLEN WEALTH OVERSEAS….SPREADING OUR STOLEN WEALTH AND ASSETS AROUND THE WORLD TO OBAMAS AND CONGRESS AND THE SENATES GLOBALIST CRIMINAL FRIENDS….WE THE PEOPLE WILL SWEAR, WE HAVE WITNESSED THESE ACTS OF TREASON BY OUR OWN PRESIDENT SO THEREFORE THESE TREASONIST ACTS WERE ALSO COMMITTED BY MEMBERS OF BY CONGRESS AND THE SENATE……WE THE PEOPLE WILL SWEAR AND ATTEST ON A STACK OF BIBLES….RIGHT IN THE PEOPLES CAPITAL BUILDING…….RIGHT ON THE SENATE AND HO– USE FLOORS…..RIGHT IN FRONT OF THE TRAITORS FROM WITHIN. THE CONGRESS AND SENATE……!!! …….OFF WITH THEIR HEADS AMERICA…. !

  3. Beth A. says:

    The present Commander and Chief is controlled by Wall Street as well. He will not effect any change whatsoever unless of course there is some pretend effort made so as to help secure his re-election.

  4. “DeMarco’s job is to do everything in his power to help Americans avoid foreclosure, but he has repeatedly sided with Wall Street and blocked requests from Congress and the Obama administration to help struggling homeowners by reducing principal on loans to fair market value”.

    This just proves that Obama, his supposed “boss” has little power and yields to the oligarchy he works for. Voting for a Democrat or Republican is catamount to a chicken voting for Colonel Sanders. One exception of course is Ron Paul, who is, as we know, feared and demonized by his ower party. Wake up America and Stop listening to the controlled Main Stream Media; they are also on the oligarch payroll. Just think of the amount of money paid to the Main Stream Media, during the campaign season alone.

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