Fannie Mae-No Politics (FNMA)

[WB_fan82]

Diluted:

It seems to be a given that the credit line would stay in place in every scenario and TSY would receive some kind of fee for that backstop. As such, why would there be any change in stance from the ratings agency if the GSEs either leave c-ship (or, perhaps more likely, stay there for a while but Mnuchin gives Calabria sole control to push the exit button)?