Fannie Mae-No Politics (FNMA)

[GAK-]

Quote: "Which means the GSEs need to raise $33B less capital to meet the CET-1 requirements."

You guys are back to discussing sequence and timing. I'm talking about total capitol. I believe, with most, that the GSEs will be given up to 5 years to raise that capital buffers. I believe, as the GSE comment letters both say, that higher G-fees will be instituted, leading to higher earnings