Ackman pitches Trump officials on Fannie, Freddie plan, Barron’s says

Pershing Square’s Bill Ackman pitched his plan for Fannie Mae (FNMA) and Freddie Mac (FMCC) – for the Trump administration to retire the government’s senior preferred shares that give it a $370B claim on government sponsored entities – to administration officials this month, Joe Light of Barron’s reports, citing people familiar with the matter. The officials briefed on Ackman’s plan included 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, sources told Barron’s.