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The GSEs, Fannie Mae and Freddie Mac, have been the backbone of multifamily finance since the start of the credit crisis and then recession; indeed even during a strong economy they provide the majority of finance to this asset class. The commercial real estate industry has been, not surprisingly, very supportive of the government measures to buttress the agencies since last September. Therefore, the results of last week’s Quick Poll were something of a surprise. The question–is $15 billion, Fannie Mae’s most recent request in emergency Treasury Department aid–finally too much. The responses were a lopsided 70% to 30% in favor of the notion that, yes, it was too much.

No doubt, some of the responses were made with en eye to the overwhelming level of financial triage the government has performed on the economy. Fannie Mae alone is topping $60 billion in requests for emergency aid. Other respondents have a more nuanced view of the issue – a view that still leads them to conclude that additional aid is counterproductive at this point.

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