Fannie Mae-No Politics (FNMA)

[DEGNYC]

Dear Mel Watt-

You have done a find job as the regulator of FHFA- the GSE have been extremely profitable and you have executed the sweep marveously.
We are at a crossroads- Dodd/Frank reform is putting your job in jeopardy and the DOJ has essentially said that the structure of FHFA may be unconstitutional. So what should you do? if i were you-i would try to protect my legaqcy. President OBAMA and Secretary Lew instructed you how to regulate the GSE. I know... you dont lose sleep over shareholders- you said it before Congress. Firemen in Fresno are shareholders- Fannie Mae employees are shareholders- teachers in Chicago are shareholders through pension funds and alike. The hedge fund holders of the preferred and common stock don't need the 30 year fixed rate mortgage to access the American dream of homeownership-but the aforementioned do. In the event that housing reform does not get done before the capital buffer goes to zero and in the event that DODD FRANK does get done you may be the scapegoat for the failed GSE-NOT Trump, not OBAMA- not LEW- but MEL WATT for messing up the Conservatorship where the GSE need access money from the Treasury. Stop the sweep- preserve your legacy ( don't be the fall guy) and the American dream of home ownership.