Billionaire investor Bill Ackman said that President Donald Trump’s administration is working to lift shares of the Federal National Mortgage Association (OTC:FNMA), or Fannie Mae, and the Federal Home Loan Mortgage Corp. (OTC:FMCC), or Freddie Mac, ahead of what could be “the largest IPO of all time.”
Trump Likes To See ‘Stocks Soar’
Ackman, who’s been an investor and prominent advocate for both housing finance companies since 2012, says that “It is abundantly clear that the administration wants Fannie and Freddie (F2) shares to go higher in the run-up to a share sale.”
Referring to Commerce Secretary Howard Lutnick’s recent appearance on CNBC, Ackman says that “Lutnick knows how to talk a stock up and that’s precisely what he is doing here.”
See Also: Mortgage Bankers Association Voices Concerns With Trump’s Plans For Fannie Mae, Freddie Mac Merger
Ackman dismissed concerns that the government might dilute investors by converting senior preferred stock into …