corrente

Missed this one in all the excitement this morning.

John T. Korsmo has resigned as chairman of the Federal Housing Finance Board, saying that "speculation concerning my private affairs has become a distraction" for the panel that regulates the nation's 12 home loan banks.

In an e-mail to colleagues Friday, Korsmo said he had regretfully concluded he should step aside while Congress debates the future oversight of the home loan bank system. White House spokesman Erin Healy said yesterday that the White House accepted but did not request Korsmo's resignation.

Korsmo did not describe the speculation he cited and has not responded to repeated requests for comment. But last month, Dow Jones reported that the Justice Department was conducting a criminal probe of Korsmo's political fundraising in 2002, the year after President Bush appointed him to head the regulatory agency.
(via WaPo)

Housing, hmmm? Sure hope a winger hack wasn't put in charge of another one of Alan Greenspan's bubbles....

Hey, when Ashcroft gets out of rehab, he share war stories on campaign finance with this guy!