Gov't and Congress got exactly what they wanted, the inevitable UST Draw for the Twins. We all know it was made necessary as a result of Tax Reform but that will NEVER be made public knowledge. The OPTICS are exactly what they needed them to be..."GSE's remain a systemic risk. Proof? They had to take ANOTHER Treasury draw in a red hot housing market. What more proof do you need?" Optics... and everyone knew, including the Government, that inevitably a Treasury Draw would be needed to validate their claims and lead to the inevitable "reform" (shuttering) of the Twins.
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