A few thoughts
1.) Why set a 3 Billion dollar capital buffer?
2.) The president signed the tax bill before 2018 which means that the GSEs
would have to take a draw by the end of this quarter in March. This contradicts
with Mnuchins statement that they don't want taxpayers at risk. A draw even
if one time would give huge propaganda boost to Media and Others who
oppose the tax bill. Ammunition to democrats also.
3.) Again, you can't have any equity raises or ipos for these companies
until after they're released from conservatorship. Few if any investors would
trust based on promises.