Fool's errand? Fannie, Freddie hunt for advisers

摘要

US mortgage finance giants fannie mae and freddie mac are on the hunt for investment bankers to help pull them out of conservatorship. But their regulator has raised the stakes for any exit, proposing that the pair raise more than US$200bn in capital to guard against future bailouts.It's a sum that is likely to scare off any potential investors and make the assignment of advising Fannie and Freddie a fool's errand, according to one banker who said his firm would not pitch for the job.Last week, Fannie and Freddie separately said they will issue requests for proposals to hire underwriting financial advisers to assist in developing and implementing a plan for recapitalising and ending their conservatorship.