......With HUGE PROFITS - even critics admit now admit "reform" unlikely ! Fannie Mae here to stay !!!!
Says David Weidner of MarketWatch - "Fannie Mae's record profits, attained through a resurgent -- if still nascent -- housing market and economic recovery, are indeed welcome.
Fannie Mae on Tuesday reported net income of $17.2 billion-- its best year ever.
....Given their role, any efforts to reform the government-sponsored entities, is likely doomed. No one wants to touch them, even if they knew how, which they don't."
Last week the National Association of Home Builders said a "federal Backstop" to the mortgage market is a must.
Sure looks like Fannie Mae to stay and the shareholders will prosper