Has nothing to do with me, just asking you the meaning of that statement. Here's what I think to be true:
Regardless of capital retention the GSE's will not be released from C-Ship, which is why I was curious as to that statement. Because even with the amount of capital on hand, the PPS is worthless, so again...leading to WHAT?
Do I think they'll get out of the mortgage business? I surely do in their capacity as backstops for the secondary market. They'd like nothing better than to have that role taken over by TBTF and WS, they'll profit just the same while delegating the responsibility.
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