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.

As a practical matter, no Fed chairman or governor can function without the support of the White House and the US Treasury.

In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA) but big banks are very happy to have no rule at all.