Bill Ackman, the billionaire founder of Pershing Square Capital Management, has an audacious plan to privatize Fannie Mae and Freddie Mac without congressional approval. 

The proposal involves the federal government forgiving hundreds of billions of dollars while also reducing capital requirements. As a result, Ackman claims the plan would boost the stock prices of both companies to the $30 range without putting upward pressure on mortgage rates.

The plan starts by cleaning up the capital structure, assuming the U.S. Department of the Treasury’s preferred share positions in these companies have already been repaid. That’s based on the fact details ⇒

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