2011 (Citizens for Responsibility and Ethics in Washington) – As the House moves to consider the budget, the Rules Committee has approved for debate an amendment offered by Rep. Mel Watt (D-NC), cutting the budget of the Office of Congressional Ethics by 40%. Given the news that the House Ethics Committee has all but stopped functioning, could there be a worse or more ill-timed amendment?
Further, this seems like a personal vendetta. In 2010, Watt was one of eight members the OCE investigated for potentially tying fundraising to votes on the financial regulatory reform bill. Although Rep. Watt ultimately was cleared of any wrongdoing, apparently he is still smarting from the inquiry.
2013 – WASHINGTON (MarketWatch) — Rep. Mel Watt is going to be nominated to run the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac, according to press reports Wednesday. Watt had been considered one of the leading candidates to get the role, along with Moody’s economist Mark Zandi. The North Carolina Democrat, if confirmed, would replace acting director Ed DeMarco.
Perhaps, as it was noted here earlier, Obama needs him to inflate the housing bubble again.