Did the Fannie and Freddie Bailout Involve Securities Fraud?
It would have been one thing if the Treasury had barred shareholders from profits until taxpayers were repaid for the Fannie and Freddie bailouts, but an undisclosed and permanent ban on profits is extreme, especially for those who bought in when times were hard. It’s not quite nationalization, as Fannie and Freddie are both government-sponsored enterprises, but Treasury’s actions could be reasonably interpreted as a kind of seizure of private assets. After all, who would invest in a stock knowing that any of the firm’s earnings would basically be confiscated?
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