Fannie Mae-No Politics (FNMA)

[NeoSunTzu]

You are correct; for all practical purposes - especially with regard to the IPO and release of FnF - the SWF is now both non-existent and irrelevant. Long before Trump created the Executive Order, there were many discussions inside academic, economic, financial, and political circles (for years) about the possibility of establishing a SWF. It's just that it never reached serious enough consideration until Trump for any media to cover it and most here are not familiar with those inside groups or circles. Almost all the prior analysis stated it likely would require Congress, our large deficit precluded and realistic funding mechanisms, and there were too many unsolved political issues about control (power changing hands with each election), and a host of other issues.

Bessent and Lutnick ran up against all of this recent past history and their report was basically shelved by the Trump admin. Law firms (Holland & Knight), universities (Univ of Chicago), and think tanks (The Wilson Center) were just a few examples all in agreement that the national debt and likely congressional approval precluded any establishment which is why we saw at least one party introduce a bill to study the SWFs establishment.

There will be no SWF to have a bearing on FnF anywhere in the next couple of years.