- So, there HAS BEEN a change in thought at the FHFA regarding conservatorships.
- Prior DeMarco course was to wind down
- self explanatory
- Adverse in whose view?
- DeMarco's plan was to wind down F&F while in conservatorship through gradual reduction of their capital cushions to zero in 2018, a "conceivership" if you will. Director Watt, I suggest, has a different approach. No wind down, but at the same time wants a solution where shareholders do not benefit, as in shareholders benefiting would cause "harm to the markets".