Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Well you'd be surprised at just how relevant and effective both the NAR and the MBA are with their lobbying machines. Do they care about the Secondary Mortgage Market? Yes, and they know exactly how to get their message across to the relevant government decision makers. I think originally they wanted to hobble the gses as much as possible, looking for an explicit government guarantee (NAR) and in the case of MBA to move in on the gses business model. But lately they seem to have finally realized that a well capitalized Secondary Mortgage Market is good for them.

Why do think they are irrelevant?