Bill Ackman went on the offensive Monday regarding the proposed reprivatization of Fannie Mae and Freddie Mac, claiming that the government-sponsored enterprises (GSEs) have been the victims of “outright theft of the forever profits of those companies” by the U.S. government.
Fannie and Freddie landed in federal conservatorship in September 2008 amid fallout from the mortgage default-fueled housing crisis, which the GSEs played a central role in fomenting.
In a lengthy Monday morning post on the social media platform X, Ackman, the billionaire founder and CEO of Pershing Square Capital Management, said the U.S. Treasury Department’s decision in 2012 to unilaterally amend the GSEs’ original conservatorship contract was an unconstitutional ac...