Fannie Mae-No Politics (FNMA)

[NobodyFromNowhere]

Confirmed Need for Fannie and Freddie to Retain Capital with Bob Corker's Banking Team

Currently Bob Corker's big fight is with increasing a the gas tax so that the Highway Trust Fund has a capital buffer. In meeting with his Banking team, I compared the profit sweep on Fannie and Freddie which results in zero capital held at the companies to be as irresponsible as retaining zero capital in the Highway Trust. They confirmed that they agreed and that Fannie and Freddie should retain capital in case of adverse scenarios.