mnuchin said he would prefer an explicit guarantee at the security level
that's congress.
that said, fhfa needs to put their proposed capital rule into place
not sure how long that takes after the comment period ends, if adjustments require a new comment period, etc.
not sure how long it takes for the gses to come up with capital restoration plans, or how long between the implementation of the proposed rule it takes fhfa to tell the gses to submit to them capital restoration plans.
also note that even with a proposed rule and a capital restoration plan, the nws makes a capital restoration plan impossible.
i don't expect we win any legal rulings in that time frame.
killing time,
indeed, what have we been waiting for? why has this been taking so long?
why has the rule of law grown so tired and old (h/t david stevens)
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