I'm an investor, and I'm a tax payer. Mr. Mnuchin has a job to do, and that is being the Secretary of Treasury of the United Stated Government. He is not beholden to GSE investors, he is beholden to US citizens when he accepted appointment to his position.
In as much, I expect him to follow the rule of law, and uphold his duty. This administration is going to release the GSE's. They know that they are imperative to our country and the 30yr mortgage. They know that home ownership is often the most valuable asset most people will own, and can be extremely important in the later lives of our most poor.
He did not create this mess, but he is charged with undoing it. There are financial implications, political implications and a media that is anything but honest or we likely would never have been in this situation as a country.
As Mnuchin and the administration navigate this field of land mines, I expect him to maintain all options as possible and not only possible, but as ammunition for what appears to me to be unavoidable negotiations coming. If he were to not protect the American tax payer to the fullest degree possible as the Federal Government loses this battle, he will not have performed his duty no matter what his personal view on the matter.
There is a very thin, but very just line to walk.
Calabria having declared the FHFA structure mob-dependable prior to them returning to defend it, was a very calculated move.
I think both Calabria and Mnuchin will defer to the rule of law and believe it will succeed, while performing the duty of their positions to the best of their ability to serve those they were appointed to serve. They will not give us a win, nor will they rig the game.
It is up to the judicial system and rule of law to provide a judgement or negotiated resolution in natural order.
