Tuesday, October 29, 2013

Hugh McColl backing Mel Watt for FHFA

U.S. Rep. Mel Watt
Former Bank of America CEO Hugh McColl has publicly thrown his support behind fellow Charlottean U.S. Rep. Mel Watt in his fight to be confirmed as director of the Federal Housing Finance Agency.

President Barack Obama nominated the 11-term congressman in May for the position overseeing Fannie Mae and Freddie Mac. While the Senate has held hearings on his confirmation, a final vote has been a long time coming.

The debate over Watt's future has grown more heated this week. On Monday, South Carolina Sen. Lindsay Graham said he would try to block all Obama's nominees until there was more information from the White House on the September 2012 attacks in Benghazi. The same day, White House Chief of Staff Denis McDonough called Watt's confirmation a top priority and met with housing and finance leaders to get them to help get Watt through.
Hugh McColl

McColl appears to have answered the call. In a letter to newspaper editors obtained by Politico, the former chairman says there's "no reason not to" confirm Watt to the Federal Housing Finance Agency directorship.

"I have known Mel Watt for 40-some odd years, both as a lawyer and as a U.S. Congressman," he writes. "I know him to be highly intelligent, a man of impeccable character and a straight shooter. While Chairman of the Board of Bank of America, I consulted with him on many occasions about banking legislation. We did not always agree with each other, but I always knew that I was getting an honest opinion and one that was well thought out."

McColl specifically calls on North Carolina's senators, Republican Richard Burr and Democrat Kay Hagan, to support his confirmation. Senate Democrats are hoping to vote on it this week.

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10 comments:

Anonymous said...

From the guy who didn't like all the bus riders sitting in front of his building to have the town of charlotte build a bus station to get rid of them...

Anonymous said...

It was a mess on that corner--and people were getting harrassed going to work--especially women. McColl brought immense prosperity to Charlotte which benefoted everyone, and almost single-handledly revitilized downtown Charlotte inside the beltway. He was greatly admired by his employees from top to bottom. Get your priorities straight.

Anonymous said...

More lyin, cheatin, SOB's in politics. Gee what a suprise

Anonymous said...

anon 10:19 McColl knew his move wouldn't be appreciated so he "trained" a car detailer/city council member to be a builder just for this project. I know lots of people under his tenure and what you say about the admiration of all is a big, fat, lie...but thanks for playing 7 I hope you "benefote" as you put it from my sharing this knowledge with you.

Anonymous said...

Maybe McColl can get answers and testimony on Benghazi then.

Anonymous said...

McColl brought prosperity? He was one of the first derivatives mongers (criminals) that caused his former employer to go bust and require trillions in taxpayer monies.

Yes, lets continue to listen to the old carpet bagger.

Anonymous said...

No surprise. Almost all of Watt's campaign cash came from mega-banks, and he consistently blocked banking transparency laws such as Audit The Fed. Watt = bank puppet.

par said...

Not a surprise. Yet think Watts is more qualified for the FHFA position than Fox for the Transportation Secretary. Washington politics is a three ring circus.

Anonymous said...

Who cares what he thinks about ANYTHING.

Anonymous said...

I met Mr. Watt on a school trip to washington and he was a nice enough guy. But If Hugh McColl says he stands behind him, I do too, because Hugh is the man.