What's not true? What power does he have? His stock gives him no rights. The way a guy like Bill ackman gets power and on a board to help fix a company is buy a big amount of stock with voteing shares or enough to go and get the few more votes on his side. He over took a medication company that wouldnt merge with the one he. Had stock in. He went around the country to get board memebers on his side to get enough votes. Common stock does not give you any voteing rights in this company. Plus the govt took all voteing rights aways from all the shares that had voteing rights. Mark zucketburg only owns about 15% of facebook, but his shares are voteing shares and he himself has 3 out of 5 seats on the board. So on one can over throw him. Even if you owned 99% common stock of Fannie Mae you would not have any say in the company.
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