Pulte purge: Hundreds replaced amid ethics inquiry
Federal Housing Finance Agency (FHFA) director Bill Pulte has overhauled leadership at Fannie Mae and Freddie Mac since taking office in March, replacing hundreds of staff and installing advisers with alleged political ties. He has also used agency social media accounts to promote Trump administration priorities, drawing criticism from Democratic lawmakers. Government watchdogs have claimed the changes risk conflicts of interest.
Pulte has defended the moves as necessary to improve oversight and efficiency. Critics argued the approach favors political loyalty over expertise.
Former White House ethics lawyer Richard Painter said reliance on personal connections at the agencies is “unprecedented.” The Government Accountability Office has opened an inquiry into whether Pulte misused his position.
Painter said, “This reliance on a buddy system, in which people are getting into positions because of their political or personal connections, is unprecedented at these organizations. It’s a potentially explosive and dangerous situation that could be damaging not only to the mortgage industry but to our economy as a whole.”
https://www.msn.com/en-us/money/markets/pulte-purge-hundreds-replaced-amid-ethics-inquiry/ar-AA1T54dk
Loyalty over expertise? That's the Trump administration in a nutshell.