William Ackman on Fannie & Freddie
Unveiling his plans to save the lenders, with William Ackman, Pershing Square Capital Management managing partner
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"This is a conservatorship, which is a good thing, because you can accomplish it more efficiently," Ackman said.
Part II
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Sources:
Ackman: A Plan to Save Fannie & Freddie
CNBC.com | 15 Jul 2008 | 10:30 AM
http://www.cnbc.com//id/25685589
Slideshow
http://www.cnbc.com/id/25688918/site/14081545/
Thursday, July 17, 2008 | 03:00 AM | Permalink
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Not that I'm a merchant banker but I recognize some similarities between this proposal and one written up by Nouriel Roubini on his blog. NR's proposal had a 5% hair cut for the bond holders and reduced the spread compared to treasuries to parity thereby gaining 50b in profits?? for two GSE's. Probably a better option given NR seems to be a genius.
Posted by: simon | Jul 17, 2008 3:48:31 AM
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