Fannie and Freddie: Will foreign agencies fill the gap?

With Fannie Mae and Freddie Mac being wound down, the big question is where are Wall Street’s fees going to come from now? According to Thomson Reuters, from the beginning of 2009 to the end of March 2011, Fannie Mae produced $1.57 billion in fees for the investment banks and Freddie Mac $1.26 billion – the largest contributors of fees globally, with JPMorgan, Bank of America Merrill Lynch and Goldman Sachs the biggest beneficiaries. Total global market fees were $188 billion for the period, making those two agencies accountable for 1.5%