Edward Joseph DeMarco is an American government official who served as the acting director of the Federal Housing Finance Agency (FHFA),[1][2] the conservator for Fannie Mae and Freddie Mac, from 2009 through 2014.
According to DeMarco, FHFA's mandate from Congress is to preserve and conserve the assets of Fannie Mae and Freddie Mac.
In August 2009, President Obama promoted DeMarco to the position of acting director of Federal Housing Finance Agency.
[citation needed] A Change.org petition from March 2012 claims that DeMarco is "the biggest obstacle to serious economic recovery.
Regardless of expert advice to provide principal reduction to homeowners whose homes are underwater, DeMarco has personally blocked it.
[8] Nobel economist and The New York Times columnist Paul Krugman called for DeMarco's firing in his blog on July 31, 2012.