Bill Ackman Reportedly Urges Washington To Retire $470B Claim On Fannie Mae, Freddie Mac

• The Pershing Square CEO pitched the plan to National Economic Council Director Kevin Hassett, White House Deputy Chief of Staff James Blair, among others.
• The U.S. government took over the two firms in 2008 and injected nearly $200 billion in bailout funds.

Billionaire investor Bill Ackman is reportedly campaigning for the U.S. government to retire its $470 billion claim on Fannie and Freddie.

Ackman brought his campaign directly to Trump administration officials this month, a Barron’s report said, citing people familiar with the matter.

The Pershing Square CEO pitched the plan to National Economic Council Director Kevin Hassett, White House Deputy Chief of Staff James Blair, Federal Housing Finance Agency Director Bill Pulte, and Treasury Under Secretary for Domestic Finance Jonathan McKernan, the report said.

Ackman has argued that merely retiring the senior preferred shares and uplisting the companies to a major exchange like the NYSE wouldn’t affect the mortgage-bond market, the report said.

The U.S. government took over the two firms in 2008 and injected nearly $200 billion in bailout funds. In return, the U.S. Treasury received warrants to acquire nearly 80% of the companies’ common stock, as well as a new class of senior preferred shares.

Ackman’s Plan

Ackman in a plan it disclosed in November, said that instead of immediately freeing the companies or selling some of its stake, the government should consider its senior preferred stock as already repaid.

Ackman contended that the government has been sufficiently compensated through the over $300 billion in dividends it has collected from these shares.

The proposal also called for the government to use its warrants to obtain close to 80% of the companies’ common shares and to have the stock relisted on the New York Stock Exchange. According to Ackman’s plan, the government can then use the remainder of Trump’s term to strategically prepare for the end of the conservatorship.

Ackman, more than a decade ago, had disclosed that his funds had acquired more than 10% of Fannie and Freddie’s common shares, according to a Barron’s report.

Retail Reaction

Retail sentiment around FMCC shares jumped from ‘bearish’ to ‘bullish’ territory, and message volume also soared from ‘normal’ to ‘high’ levels.

Shares in the company have fallen 52% so far in 2026.

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