Former Rep. Watt is a "Trojan Horse": If he is confirmed F&F Will Live and thrive as publicly traded Entities!!!
Watt has got to play a good "rope a dope" with the confirmation committee in order to be confirmed; but once he gets in; he will run Obama's reformation plan for the GSE's prior to spinning 'em off to the Market.
It is the most sensible plan, where the U.S. Taxpayer, plus private investors win.