Watt comfortable with profit sweep from GSEs

|By:, SA News Editor

“I don’t lay awake at night worrying about what’s fair to the shareholders,” says FHFA boss Mel Watt in an interview to be aired on Sunday. "There would be no Fannie (FNMA -1.8%) or Freddie (FMCC -1.2%) but for the taxpayers."

Watt also notes the he had no role in altering the bailout agreements to allow for the continuous taking of all GSEs profits by Treasury. “I don’t know whether I would have thought differently had I been there, but I don’t have that luxury ... It’s an arrangement that I’m comfortable operating under.”