Fannie Mae and Freddie Mac own about 80% of all the mortgages in the United States. In 2008 after a whole lot of mortgage companies went broke from the housing bubble, Fannie and Freddie bought the mortgages and then failed themselves except the government took them over. You and I took the liabilities for these mortgages and now Fannie and Freddie are about to recoup their investment and we could see another trillion dollars in revenue. I wrote about this before and pointed out how other stockholders wanted the government to give up it's return on investment in favor of others who bought stock after the crash.
Yahoo - CNBC - Ackman: Fannie 'best trade ... in capital markets'.
Now a Hedge Fund Manager is saying that Fannie and Freddie are the best investments because they are going to pay out big, now that they have paid back their buyout amount and theoretically that the government will stop thinking that they as majority shareholder should get a return on our investment. Should the government give away assets as soon as they make a return? You will get taken advantage of by this new congress, wait, business is betting on this country to lose.
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