Germans Banks Gunning for GSE Investors European banks apparently are smelling blood in the water as political wounds and accounting problems continue to hamper Fannie Mae and Freddie Mac. “You [have] heard it all. First, you have the Fannie Mae and Freddie Mac accounting and management scandals, the GSE reform bill is still up in the air, and everyone is debating the reality or fiction of the ‘implied guarantee’ by the U.S. government of the