Ed Haldeman, Jr.
Chief Executive Officer, Freddie Mac
Excerpt from remarks to Boston College’s Chief Executives’ Club of Boston
October 26, 2011
TAKEAWAY: POLITICAL LANDSCAPE
I want to close with a few thoughts about the future of Freddie Mac, and I have to begin this section by announcing that I totally get that we are precluded from lobbying and advocacy. It was one of the things that was taken away from us in conservatorship, and anybody who has read the book Reckless Endangerment might say it was a good thing that it was taken away from us. Irrespective of where you are on that issue, you should know that we take that responsibility very, very seriously. We don't lobby, we don't advocate.
But the policymakers—that is the Treasury Department or congressional staffs—do call us up and ask us to come over and speak with them and describe to them the business, and provide understanding and expertise with regard to the secondary mortgage market. Important information for them to have as they think about what is the right future for Freddie and Fannie going forward.
Some people are probably wondering, When will a decision be made about what’s next? And I can only say, I am one of those people who is wondering as well. When I was recruited to the job in June, July of ’09, almost all of us thought that a decision would be made during the first Obama administration. Probably that’s not going to be the case. Maybe I’ll be surprised, but it doesn’t seem like we’re in an environment where many decisions are being made in [Washington] D.C., and I think [a decision about the future of Freddie Mac] may be one of those things that happens after the election.