An article in The Street, following a hearing on the government sponsored enterprises (GSEs) in the Senate Committee on Banking, Housing and Urban Affairs, discussed Ralph Nader’s advocacy for Fannie Mae and Freddie Mac shareholders. The long-time consumer advocate is pushing for a hearing that would discuss Fannie and Freddie shareholders’ rights. Nader pointed out that the shareholders have been left without a seat at the table with regard to the discussion on how to proceed with regard to GSE and housing reform.
Nader points out that the shareholders of bailed out Citigroup and AIG were allowed to participate in their recovery. The GSEs’ shareholders deserve the same opportunity, he said. Though Nader is best known for his positions on consumer protection, he has advocated for shareholders and shareholder rights in the past when he wasn’t a shareholder himself – most notably on issues with GM and Exxon Mobil. To read the full article, click here.