He is not there to talk about the GSE's which are owned by the government. If he did mention anything "common shareholders " would not be brought up .Why do you ask ? Moving forward the steerage of these companies (common holders )will be discussed as little (FNMA) as possible just like now . Big IPO plans are being made . First class all the way . Big party and celebration. NO STEERAGE. They would frighten away the real investors. No Wall Street Blue Chip type will Pay a IPO premium for the new Fannie Ticker to be sitting next to and rubbing elbows with $1 per share bottom feeder at big party .