Fannie Mae-No Politics (FNMA)

[FOFreddie]

Hi NeoSunTzu -

Futile is a strong word - what is different for the GSEs than say a large publicly owned utility?

What do you think the ROA is for the GSEs. How much does each GSE own on retained cash? How much will the GSEs earn on net interest from $ 150 bn in cash retained on their balance sheets?

Do you think the GSEs would be included in the S&P 500? If so how much of the GSEs would be owned by institutions that track or benchmark against the S&P 500 especially if the GSE equity has a 3- 4% dividend?

I dont know about your futile characterization - especially if they are well capitalized and operate under their existing charters.