"….it is undeniable that Fannie Mae and Freddie Mac are as equally large and complex (if not more) as other large financial institutions in our economy. In the post-Dodd-Frank world, Fannie and Freddie will be the only significant financial institutions not voluntarily and mandatorily raising their capital: instead, they are being told to lower their capital – to zero. This does not make sense."
The letter also echoed an idea that housing policy experts from across the political spectrum have backed: Treat Fannie and Freddie like systemically-important financial institutions, or SIFIs. The two lawmakers cautioned that they oppose the authority of the Financial Stability Oversight Council to designate firms as SIFIs and have “serious concerns about the transparency of the FSOC designation process.” However, the footprint of the GSEs must be taken into account in public policy. They wrote
i want to hear a reply by march 1st, not holding my breath
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