Obama to tap Representative Watt as housing regulator
By Margaret Chadbourn WASHINGTON (Reuters) – President Barack Obama on Wednesday will nominate Democratic Representative Mel Watt, a longtime consumer advocate, to oversee mortgage financiers Fannie Mae and Freddie Mac, a White House official said. Watt, who has served in the House of Representatives for two decades, was likely to face a confirmation battle in the Senate, where Democrats may need to secure some Republican votes to approve his nomination. . . .
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