Calabria exits

Category: Capital Relief Trades

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FHFA director removed, GSE stocks nosedive; Fannie comeback?

The Biden administration fired Federal Housing Finance Authority (FHFA) director Mark Calabria this afternoon (June 23) after the much-awaited Supreme Court ruling concerning the FHFA was delivered today.

Little time was wasted in getting rid of Calabria, a Trump appointee, after the Court decided that the FHFA was indeed structured unconstitutionally in that the director is insufficiently accountable to the executive, echoing an earlier decision concerning the Consumer Financial Protection Bueau (CFPB).

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