The biggest financial threat that Fannie Mae and Freddie Mac currently face doesn’t appear to be managing the interest rate risk associated with their massive portfolio holdings. Rather, it appears to be managing investor fears that the GSEs will somehow lose their ties to the U.S. government. This was made abundantly clear last week when the remarks of St. Louis Federal Reserve Bank President William Poole sent Fannie’s and Freddie’s stock prices plummeting 7