Meanwhile, there is no plan in place to allow either of the housing giants to repurchase the government's stake and return to their private forms.
Nonetheless, hedge funds are lobbying Washington to return the companies back to private hands and are betting on the junior preferred shares of the companies, which have had their dividends suspended since September 2008.
Political observers, however, say this is total fantasy and ignores political reality.
-- Written by Shanthi Bharatwaj New York.>Contact by Email. Follow @shavenk