Fannie Mae-No Politics (FNMA)

[Sogo]

Agreed the temptation is maybe too great to keep NWS in place. I've been a bit concerned the last week as the "narrative" or gvt/media zeitgeist has centered around the notion that we must solely rely on congress to resolve the GSE issue, combined with the GOP forcing Trump to delay his major initiatives such as tax reform and obamacare reform, as well as the impending 2018 zero capital date, which equals receivership, giving increased leverage to congress. Since congress equals/IS the TBTF's puppet, i suspect the grand TBTF vision of eliminating or severely marginalizing the GSEs is something they haven't yet given up. And it has always been hard to imagine any administration willingly giving up the cash cows when no one, and I mean no one, in the mainstream media has any clue what's going on, and regular people simply do not have this GSE saga on their radars at all. Trump's admin seems as different from any previous admin as we could've imagined, but that alone doesn't necessarily mean that it will willingly give up the cash cow. I think probably some advisers might be saying, "hey, let's milk this until it gets to zero, and only THEN will we be required to do anything about it, and at that point, congress will want to have its say, and we'll work together with them and we'll all come out looking like heros when we pass legislation solving the GSEs-are-in-receivership problem." I've been long for years here. But those are some of my concerns as of today.