Buzzfeed published an in-depth article on Friday discussing Ralph Nader’s transformation from a consumer advocate to a shareholder activist. The article quotes Nader’s criticism of Fannie and Freddie’s management, saying it was a “dictatorship” and that “shareholders were stripped of their rights.”
The article touches on the government’s restructuring of Fannie and Freddie’s dividend payments, which now prevents them from recapitalizing. The article also points out that the Corker-Warner bill threatens the government sponsored enterprises’ (GSEs) shareholders. By contrast, Nader supports putting the GSEs under government control but allowing shareholders a chance to recover the value of their stock. You can read the full article here.