Mel Watt wanted to stop March NWS, but was politically threatened by crooked Bank Whore Senators. I believe it, because Watt has been "somewhat" pro-recap before, but again, was brushed off by Obama Treasury in 2016:
Bank Whore Senators don't want to see Fannie and Freddie get out of this with large market share, on a private scale.
Allowing the GSE's to go into receivership allows the Big Banks to move in. Don't forget folks, Mnuchin is a banker as well. Preferreds are looking very good right about now.
Mnuchin doesn't appear to want a recap and release. He wants a "reform" and release AFTER receivership takes place.
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