Fannie Mae Preferred S (FNMAS)

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"What direction would you ideally like to take GSE reform, and in the spirit of bipartisanship, where in any of that can there be a compromise?

Since we haven't gotten too far down that road either at the legislative level or even in negotiations with the White House — I was hoping that during the last Congress we would get much more deeply into the issue than we have — but since those negotiations haven't proceeded far enough yet, it's hard for me to say where we might ultimately be able to end up.

First of all, I think we should not continue with the receivership that we still have. My personal approach would be to move as far as we possibly can into a private sector solution. I think that the capital for the mortgage industry should come from the private sector to maximum extent possible, and that specifically the risk imposed on the taxpayers by Fannie and Freddie should be managed and ultimately eliminated."