"Paul Sperry, writing in the New York Post, warns that “a pair of top Obama-appointed bank regulators still serving in the Trump administration could spark another mortgage meltdown by "lowering credit standards and encouraging risky lending practices.”
Sperry is the author of The Great American Bank Robbery: The Unauthorized Report About What Really Caused the Great Recession.
The two Obama officials are Mel Watt, who is serving a special five-year term as head of the Federal Housing Finance Agency, and Richard Cordray, head of the Consumer Financial Protection Bureau until the end of 2018.According to Sperry, Watt, a former liberal congressman, is pushing the mortgage-lending giants he regulates — Fannie Mae and Freddie Mac — to offer home loans to deadbeat borrowers with shaky credit.
This practice led to the housing market crash that threw the U.S. into recession less than ten years ago.
Meanwhile, says Sperry, Cordray has launched a crackdown on credit reporting bureaus for alleged errors and bias, leading the industry to strip some negative information from credit reports used by home lenders..."
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