Melissa mortgage giant freddie mac is heating up just when the government wants to cool it down. Freddie mac is reporting its Second Quarter largest earnings ever today but is it the cash cow that it seems to be . Or is there a catch in there privatizing freddie and fannie mae may sound good to some but how hard would it hit and hurt the Housing Market. We have former senior visor to the treasury department. Great to have you back on the show. Great to be here. Melissa so the big question today, how do you reconcile the idea they come out and have this five billion dollars profit and looks like they are on fire. Doing great with all their mortgages. They have their mojo back and at the same time the president comes out gives a speech saying we have to wind thhse guys down . How do you reconcile those two things. Dont get distracted by the shiny 5 billion. We have still 50 billion in the hole, in the red from the bailout. Melissa they have a lost quarters like this to pay us back. Exact