Fannie Mae-No Politics (FNMA)

[Potty]

Nats, right, Calabria put a whole lot of gas on the fire -- and Calabria is not stupid and knew what he was doing

One reading is that he wanted to appear as tough as possible and then let the market/others walk the rule back for him

The other reading is that Calabria is a Fifth Columnist trying to sabotage anything but an ideologically pure FnF -- which turns out not to be market-vaible... so, "Oh well, he tried but these "socialist" institutions just do not work in the market, but I tried!"

Not sure I want to venture a bet here on which it is right now -- and the same point applies to the broader WH