Posts in Category: News

Shareholder Respect Round Table on the Future of the GSEs

WASHINGTON, D.C. (February 4, 2014) – Please join Shareholder Respect, a project founded by Ralph Nader to highlight the mistreatment of shareholders, for a round table discussing the impacts of the conservatorship of government sponsored enterprises (GSEs), such as Fannie Mae and Freddie Mac. GSE reform will have an impact on shareholders, homeowners, industry stakeholders, and the broader economy. With lawmakers on Capitol Hill considering legislation that purports to reform the GSEs, and likely Read more [...]

The Street: Nader Wants Fannie-Freddie Hearing on Shareholder Rights

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 Read more [...]

Buzzfeed: Why Ralph Nader, America’s Most Famous Consumer Activist, Is Now an Activist Investor

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 Read more [...]

Financial Times: Fannie and Freddie Plan Gets Washington Attention

The Financial Times ran an article pointing out that the debate on housing reform and the government sponsored enterprises (GSEs) is heating up in Washington, D.C. The article points to Bruce Berkowitz’s Fairholme Funds’ proposal to invest capital in the GSEs as an indication that private capital may have some interest and may still see some value in the GSEs. Senator Corker claimed that the hedge fund’s proposal lent support to the bill he is advancing in the Senate to eliminate the GSEs. Read more [...]

Fannie and Freddie Shareholders – The Forgotten, Used and Abused, Silenced Constituency

Statement By Ralph Nader Friday, November 22, 2013 Since the 2008 bailout of Fannie Mae and Freddie Mac, and the beginning of their conservatorship, the stockholders of these two companies, of which I am one, have been stripped of their basic rights as shareholders. Prior to the financial crisis, shareholders of these government sponsored enterprises (GSEs) had legal rights to challenge management decisions through the courts and through proxy battles, or by offering shareholder resolutions. Read more [...]