Bill Ackman, Michael Burry Warn Trump: Government Treatment Of Fannie & Freddie Threatens Entire Banking Sector—'Let's Stop The Steal'
Benzinga·2026-03-23 10:19
The ‘Net Worth Sweep’ ControversyIn a detailed public statement, Pershing Square's Ackman argued that Fannie Mae and Freddie Mac (F2) have fully repaid their $193 billion government bailout, plus an additional $25 billion.Despite this, the Treasury continues to hold the original liability on its balance sheets due to the Obama-era “Net Worth Sweep,” a unilateral amendment that directed 100% of F2’s profits to the government.Ackman condemned the sweep as an unconstitutional maneuver designed to prevent F2 fr ...