Fannie And Freddie Investors Unite In Washington DC
- April 9, 2014
By David Sims
April 9, 2014
- Shareholders came to DC to represent themselves.
- Government has overreached their constitutional power.
- Regulators have breached their fiduciary duties to shareholders.
On April 8th, a contingent of Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) shareholders descended on Washington DC. They followed the call of Tim Pagliara, Chairman & CEO of CapWealth Advisors, and Ralph Nader, a well-known consumer advocate. They came to voice their concerns to Congress over housing finance reform and their rights as shareholders.
The following are selected notes from recordings and interviews with shareholders as they arrived, mingled with other shareholders, and got settled in before meetings on Capitol Hill.