Billionaire Bill Ackman doubles down on bold housing market bet
The outspoken hedge fund manager has been a strong proponent of privatizing Fannie Mae and Freddie Mac.
During the 2008 Financial Crisis, approximately 15 million Americans lost their jobs and the subprime mortgage crisis forced 4 million homes went into foreclosure.
In response to the Great Recession, sweeping regulatory reforms led the federal government to place Fannie Mae and Freddie Mac under financial conservatorship in an effort to stabilize the housing market and improve the financial standing of both organizations.
Historically, Fannie Mae and Freddie Mac have operated as government-sponsored enterprises (GSEs), working to enhance housing affordability by purchasing mortgage loans from lenders. However, the Trump administration has recently renewed efforts to take both entities public.
