Rep. Barney Frank, chair of the House Financial Services committee released a statement today asking President Bush to appoint an acting Secretary with the authority to: “work with us in making the decisions we need to deal with the housing finance crisis.”
Roy’s not your boy, Barney.
HUD Secretary Alphonso Jackson resigned today. The resignation doesn’t become official until April 18th and he has pledged to help in the transition. Holy mother of god, this could mean Roy Bernardi, currently the number two guy at HUD, may be picked to become the next Secretary of the Department of Housing and Urban Deveopment.
Roy served 20 years as auditor of the city of Syracuse and seven and one-half years as Mayor. The highlights of his career in Syracuse include investigation for drunken sexual assault on a young lady (no charges were brought), eviscerating the city’s finance department staff to the extent that the city couldn’t accurately track it’s revenues and expenses (resulting in the SEC citing the city for making up financial figures in a bond issue it floated) and making reckless economic development loans that left the city repaying HUD over $20 million with money that otherwise would have gone to help low income folks repair their houses.
HUD has been working with Treasury Secretary Paulson to deal with the costs of the subprime mortgage crisis for homeowners threatened with foreclosure. Sports Illustrated used to have a weekly feature, a dubious sports highlight that was evidence “The Apocalypse Is Upon Us.” Roy Bernardi sitting at the table in a U.S. President’s cabinet is just such an event. May the good lord help us all. (The band may now start playing “Nearer My God To Thee”)