GSE scam? Net worth sweep remains in play after “accounting chicanery”

The net worth sweep continues to be a hot topic for Fannie Mae and Freddie Mac. There seemed to be some light at the tunnel when signs suggested it would be eliminated, but now that an official “agreement” is in the books, nothing has actually changed. Bank analyst Dick Bove of Odeon Capital referred to the situation as “the GSE scam” in a note released on Wednesday. Q2 hedge fund letters, conference, scoops etc Agreement reached? The Treasury Department reached an agreement with the Federal Housing Finance Agency (FHFA), which oversees the GSEs, last week. It would seem that a…