FHFA Nominee Mel Watt Won’t Get Vote Until September, Reid Says
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Senate Majority Leader Harry Reid said the U.S. Senate won’t vote on the nomination of Representative Mel Watt to oversee mortgage giants Fannie Mae and Freddie Mac before Congress adjourns this week for its summer break.
Watt, a North Carolina Democrat, was selected by President Barack Obama to head the Federal Housing Finance Agency, the regulator for the U.S-owned mortgage financiers. Republicans have argued that as a lawmaker, Watt isn’t qualified for the job.