Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

What is hard for people (including MC) to realize is that the GSES ARE NECESSARY as buyers of last resort when the American Housing Market inevitably experiences a downturn and the "Free Markets" head for the sidelines.

Also, the TBTF banks and other financial intermediaries love the status quo as the unnecessary 60bp to 70bp guaranty fees charged by the GSES as a result of the Net Worth Swipe and outrageous 4.5%+ capital requirement are juicing their bottom lines for the last decade+!

Who pays for these unnecessarily inflated gfees? Hard working American Families who ALL need housing!