The Street article: Not too bad for GSEs, issue kept open
The last several paragraphs are exclusively on the GSEs. The issue is left open, so it's not bad at all. Here they are:
"Until the government decides what to do with Fannie and Freddie, the Treasury can milk the billions in dollars it gets from the agencies.
Some investors are betting that the housing giants will soon repay the government and have money left for shareholders.
That idea disregards political reality, according to some analysts, since neither party has any desire to return the agencies back to their private form.
The budget proposal may contain some language that allows for private capital to return to the mortgage market, such as further increases in the agencies' guarantee fees and charting a path towards sharing credit risk. "
Will the government be so foolish as to kill its cash cow summarily?