In what might be argued is a rare moment when an issue involving the banks is being openly debated to a near even point and not being decided behind the scenes. Watching the Fannie Mae / Freddie Mac debate from the point of the Goliath of U.S. mortgage lenders, Wells Fargo, shows how hiring a key Senate staffer might provide insight into calls of “reform” coming out of Congress. “Reform” is a word that can send terror into the hearts and minds of bankers, which is perhaps behind a recent Wells Fargo hiring decision. What to watch is how public…
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- As an intense fight appears to be closely debated to a tie, should discussion of the issues go private?
- Knowledgeable staffers know the key players and their opinions on issues
- Why is Wells Fargo fighting issues in public when the derivatives banks got their requested legislation in behind the scenes talks?
- Do "derivatives banks" have more political power than Wells Fargo?
- Government staffers have significant influence
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