Upendra Kulkarni is an IT Consultant and owns a small consulting business based in Alpharetta, Georgia. In 2005, Mr. Kulkarni was able to purchase a home, thanks to the 30 year mortgage offered by the GSEs.
Before and after the economic downturn in 2008, he decided to invest in Fannie Mae and Freddie Mac as they supported millions of Americans in fulfilling their American Dream of homeownership.
As of today, the majority of Mr. Kulkarni’s retirement savings are invested in Fannie and Freddie. Mr. Kulkarni is concerned that the proposed bill will leave him and several small shareholders holding nothing. Further, he believes it will set a bad precedent for future government market involvement without providing just compensation to the shareholders.