Bill Ackman Ignores The Warning On Fannie Mae, Freddie Mac

Back in 2012, Bill Ackman had some suggestions for Federal National Mortgage Association (OTCBB:FNMA) a.k.a. Fannie Mae. The hedge fund manager, known for his aggressive activism, said that Fannie Mae could do well for the housing sector if it held on to its foreclosed homes rather than selling them, he said, “fix them up and rent them and become a residential REIT that owns homes.” Today, Ackman’s hedge fund filed two 13Ds showing nearly 10% stake in each insurer’s common stock. Pershing Square detailed in the filings that they will push the companies to follow through with a plan for restructuring…