Ackman: No Viable Alternative to Fannie & Freddie

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May 5 (Bloomberg) -- Bill Ackman, who runs the $15 billion Pershing Square Capital Management LP, explains why he is bullish on Fannie Mae and Freddie Mac. He speaks with Stephanie Ruhle on Bloomberg Television's "Street Smart." (Source: Bloomberg)

We believe this is the pre-cable mortgage.

It is critical.

We think the only way to do it is by preserving fannie mae and freddie mac.

Our basic are they were really great institutions that took very low risk.

We think the right answer with fannie and freddie is in some sense we should wind down the old fannie and freddie and rebirth of them as new fannie and freddie.

They go back to the old business.

It is just being a guarantor of mortgages, winding down the business of fixed income arbitrage focusing on guaranteeing middle-class or worse.

Interesting enough, the taxpayer makes about $400 billion.

The taxpayer owned 79.9%. that is what i don't get.

They have a massive amount.

That is right.

This text has been automatically generated. It may not be 100% accurate.

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