The Federal Home Finance Agency has had free rein since September to disregard laws it sees as inconvenient, according to Huffington Post. That’s when FHFA succeeded in getting its inspector general downgraded to an internal auditor. And FHFA isn’t just any agglomeration of letters, either. It is the mortgage industry.
The FHFA is home to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, which are jointly responsible for purchasing or guaranteeing more than 80 percent of new mortgages issued since the middle of 2008, according to FHFA numbers.
Medicare fraud is a $60 billion criminal industry, the Centers for Medicare & Medicaid Services have been headless all year, and financing for 80 percent of the nation’s mortgages has no adult supervision.
