Obama's choice for Federal Housing Finance Agency head under fire: Analysis

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I chose this article from the Extra Extra section of www.nicar.org.

Since Rep. Mel Watt started in Congress in 1992, he has received $1.33 million in campaign contributions from the finance, real estate and insurance industries.

The records in this story state that President Obama appointed Watt to oversee mortgage finance giants Fannie Mae and Freddie Mac. Watt has received more campaign money from financial interests than any other industry of special interest.

Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), in short, govern the integrity of home loans, lending refinancing, and loan modifications.

This article talks about where the campaign money has come from for Rep. Mel Watt, how much it has cost the U.S. government and other finance giants, and the percent of new mortgages Fannie Mae and Freddie Mac buy (90 percent).

This author, Alison Fitzgerald, accessed the company's websites to get information. She also managed to get information from the U.S. Treasury on the amount Fannie Mae and Freddie Mac cost the U.S. government.

There were no interactive graphics included on this site, but the reporter did understand the skills needed to find the statistics she ended up using in her article. She obviously knew how to sift through public records to find the most relevant information that helped the readers understand the depth of the campaign costs for Rep. Mel Watt.

Fitzgerald found an interesting piece of information from the Fannie Mae website, which said Fannie Mae has contributed $3.3 trillion in mortgage credit to the market. She calculated how much both companies have borrowed from the U.S. government.

Fitzgerald related each of her statistics to the time period it was happening in, and how it was relevant/contributed to Watt's campaign.

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This page contains a single entry by schau241 published on May 3, 2013 1:13 PM.

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