Mel Watt's time has come--to be rejected
Mel Watt, who's been nominated by President Obama as the next head of the Federal Housing Finance Agency, represents a lot of what's wrong with DC. Since 1993, Watt has reigned in the 12th congressional district, an artificial, snaking district cobbled together to guarantee the election of a black liberal Democrat. Watt is eminently UNQUALIFIED for this position. He was a vocal supporter of the very policies that created the disastrous housing bubble that burst in 2008, nearly bringing the entire economy to a halt. Watt backed the taxpayer-subsidized "Pathways to Homeownership," which propped up unqualified buyers so they could buy homes--homes they could not pay for. Watt agreed with George W. Bush that down payments should NOT be required to buy a home, and hundreds of thousands of people who could not muster the foresight to save for a down payment were soon facing monthly mortgage payments they could not manage. But Mel Watt is black, so minority pressure groups are lining up behind him, including the NAACP (surprise!), and the National Council of La Raza (translation: Das Volk). This is a recurring, and troubling, pattern: a disciplined, well-financed, and well-organized coalition of minority groups are banding together to further their interests, which always require white tax dollars. If Watt is confirmed, this pattern can only accelerate.