Rochester Democrat & Chronicle
nine attorneys general recently called for his ouster
because he refuses to grant write-downs of principal on mortgages that remain under water; 45 Congressional Democrats are also calling for DeMarco to go,
according to the Huffington Post.
So you have business demanding reform because it wants to make mortgages, liberals demanding reform because they hate the present rules, and a bill to do the job supported by a bipartisan coalition. Does this make FNMA or FMCC worth 85 cents a share?
Just remember, if you're putting money into these stocks today, you're betting that Washington can break through its gridlock and produce something that will make you a profit. The roulette wheel is spinning on that. Want to place the bet?
At the time of publication, the author had no investments in the companies mentioned here. But his mortgage is current.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.