Replies to post #739123 on Fannie Mae-No Politics (FNMA)

[chessmaster315]

What I would have liked to see more of is the refutation of Obama's hypotheis that "rich hedgies" will win it all.

Its the Robin Hood theory: Its okay to steal from the rich.

Investors Unite hit that home, that most of Fannie and Freddie are held by "average" people like you and me, and only a small percent (about 10 percent) is held by institutions.
https://money.cnn.com/quote/shareholders/shareholders.html?symb=FNMA&subView=institutional

Even tho Pershing owns about 9 percent of it, (Ackman), this does not mean all his clients are the super wealthy.

The Robin Hood defense has long since been defeated. You can not steal from someone "just because" you think they are rich. The majority of shareholders are average people like firemen, police, teachers some of which have fannie and freddie in their retirement and they dont even know, because they dont track it.

Even if you have accumulated a million dollar portfolio, that is just about $30,000 per year, if you are retired conservative investor fully invested in FDIC certificate of deposits. Many just dont want to risk the stock market, and the government stealing fannie and freddie shareholder pensions does nothing to deter than mindset.