Bill Ackman’s $300 Billion Fannie Mae (FNMA) and Freddie Mac (FMCC) Plan: What It Means for Investors on November 19, 2025
What Happened — and Why It Matters Today On November 18, 2025, Pershing Square Capital Management founder Bill Ackman finally pulled back the curtain on a long‑trailed proposal for mortgage giants Fannie Mae (FNMA) and Freddie Mac (FMCC). In a livestreamed presentation and subsequent media appearances, Ackman laid out a three-step restructuring plan that he claims would not only end 17 years of government conservatorship but also deliver an estimated $300 billion windfall to U.S. taxpayers. Fox Business+1 At almost the same time, Reuters reported that Ackman now firmly opposes the Trump administration’s idea of selling a slice of Fannie