Fannie Mae-No Politics (FNMA)

[redsox17]

Ackman, who reported nearly 10 percent stakes in the common shares of mortgage financiers Fannie Mae (FNMA) and Freddie Mac (FMCC) on November 15, also said that his firm does not support Bruce Berkowitz of Fairholme's plans to take the financiers' insurance businesses private.

He said that he sees greater opportunity in the common shares of Fannie Mae and Freddie Mac than he does in the preferred shares.

Berkowitz's Fairholme Funds scooped up preferred shares of Fannie Mae and Freddie Mac with a face value of $3.5 billion at a massive discount, as well as some common shares.

(Reporting By Sam Forgione, Tim McLaughlin and Ross Kerber; Editing by Tim Dobbyn)