Fannie Mae (FNMA)

[kthomp19]

No new investor will invest in Fannie and Freddie unless historic investors are protected from, and compensated for, the expropriation of profits from the two companies that took place with the Net Worth Sweep

Note that he says "historic investors". That means those who bought pre-conservatorship, and perhaps those that bought pre-NWS (regardless of if they sold their shares since then).

So if you bought that long ago, Ackman's on your side. If you bought after the NWS, you're on your own.

Completing the largest capital raise in history in a newly restructured Fannie and Freddie will not be achievable unless and until investors in the companies are treated fairly and receive commitments that the extra-legal action of the past will be reversed and not recur.

That means money sent to pre-conservatorship and pre-NWS shareholders. Where is that money going to come from? Treasury sending it would amount to an admission of wrongdoing, something I can't see them doing.

Ackman talks a good game but even he has to know that what he's asking for is a step too far.