House Financial Services Committee hearing with FHFA Acting Director Edward DeMarco on March 19, 2013.
An amusing part of the hearing is when Representative Sherman states that “21% of the companies are owned by shareholders” which means he believed Treasury exercised the warrants for 79.9% of the common stock. Mr. DeMarco does not correct the Congressman… To this day, it’s clear that members of Congress are still confused by the Administration’s actions.
Next Tuesday, January 27, Director Watt will pick up the conversation where this Committee last left it…
Here is a video of a portion of the hearing that was disrupted by audience members: