On Thursday, we brought together unlikely allies to call for President Obama to replace Ed DeMarco, the Acting Director of the Federal Housing Finance Agency. Check out some of the coverage in key political outlets!Politico:
On a Thursday conference call co-hosted [by] Sierra Club, United Steelworkers and the group Rebuild the Dream, DeMarco was targeted as the top impediment to mortgage and environmental reforms."One person is now standing in the way," Van Jones, Rebuild the Dream president and former White House adviser, said.The Hill:
Beyond blocking efforts to boost the housing market, the groups contend that DeMarco is also holding back a broader recovery that could be driven by the housing relief. They contend that if homeowners are given more relief, they will be able to pump more money into the economy."This guy has got to go," said Leo Gerard, international president of the United Steelworkers. "He's bad for the economy."Huffington Post:
"You could have the biggest stimulus program in America by getting rid of one person," Van Jones, president and co-founder of the progressive group Rebuild the Dream and former White House adviser, said Thursday. "He is single-handedly holding up tens of thousands of jobs.""This is the only issue that I can remember that Timothy Geithner and Paul Krugman both agree on," Jones added.Also, don't miss Arianna Huffington's amazing blog post where she talks about how the Presidential candidates aren't paying attention to the housing crisis and the thousands of struggling underwater voters.
Big news this week.The Federal Housing Finance Agency released a report on their study on the effects of principal reduction and Edward DeMarco announced he would block efforts to reset home loans to fair market value.Here's what we said on the issue:
"More than 85,000 Rebuild the Dream members have signed a petition calling on President Obama to fire Acting Director DeMarco, and thousands more have made phone calls to the White House. We value the administration's continued pressure on DeMarco to embrace principal reductions -- including Treasury's repeated offers to provide assistance and incentives -- but the time for more forceful action has come. This community will continue demanding that our leaders provide real hope to homeowners, including principal reductions that will keep families in their homes and expanded refinancing options that will save millions of homeowners hundreds each month."- Ian Kim, Managing Director of Rebuild the DreamWant to catch up on the news surrounding Ed DeMarco? We have a miniature roundup ready for you:
- New York Times Columnist Paul Krugman writes, not one, but two editorials calling to fire DeMarco.
- Even Treasury Secretary Timothy Geithner writes a strongly worded letter opposing DeMarco's decision.
- Politico points out many progressive groups, including Rebuild the Dream, want DeMarco gone.
- Slight humble-brag: Our CEO Natalie Foster was mentioned in articles in the Huffington Post and San Francisco Chronicle
- And yes, it is absolutely possible for Barack Obama to replace Ed DeMarco.