Fannie Mae-No Politics (FNMA)

[FOFreddie]

Jared seems like a serious well intentioned guy - sort of a liberal renaissance guy with a good enough jump shot to play basketball with the BO insiders. Give him credit to step away with Larry Summers from the BO White House before the sausage of the NWS was made. I think of him in the Mike Calhoun cohort - well intentioned but liberal. Good enough to want to serve now rather than make gobs of money off the plight of GSE common shareholders as a Advisor.

The key is that need to get something done now and they are almost certainly try to ram it though via Admin Action. DJT II timing and possibly a Tim Scott Chair of Senate Banking Committee will probably cause them to abandon to cram down to get something done administratively before it can be unwound by DJT II