Interesting angle: gop fear bailout blame. I haven't thought much about that subtlety. If the GSEs tap Treasury again, the Dems/Media complex will scream and shout "bailout! Bailout!" And it'll be echoed and amplified all over the place. GOP would thus get blamed for allowing a bailout in an election year.
But what can the GSE do to avoid it? Only allowing a significant recap would prevent the need to tap treasury.
Does this mean Moelis is even more likely to be passed?
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