The Institutional Risk Analyst

Why is FHFA Director Bill Pulte being excluded from the process of preparing the GSEs for release from conservatorship? Short answer is that Bessent and the professional staff at Treasury don’t think that the very high profile Pulte (aka "Little Trump") should be involved. But this may be a serious error in judgment by Scott Bessent.

“The boards of the GSEs don’t have a fiduciary duty to the Enterprises,” Pulte noted. “They have a fiduciary duty to the conservatorship.”