Monday, March 3, 2014
Bruce Berkowitz on Bloomberg Talking About Fannie Mae and Freddie Mac
Bruce Berkowitz was on Bloomberg TV earlier today talking about his opinions on Fannie and Freddie. He is currently pursuing a lawsuit to remind the government that both Fannie & Freddie are still owned by all shareholders and not just the government. He won the ability to do some federal discovery to find out some more information on the companies and understand whether or not they will be privatized or taken over completely by the government. This is a fairly big position of Fairholme and is also a "hot" name with other hedge funds. Bill Ackman's Pershing Square has acquired substantial amounts of common stock in both Fannie & Freddie and thinks it can return 10x. Other hedge funds have also started to circle the names.