This week marks the five-year anniversary of Fannie Mae and Freddie Mac's being placed into conservatorship. Bruce Berkowitz of Fairholme Capital Management explains why Fannie and Freddie shares should be returned entirely to the public market.
"The taxpayers should make a very nice return on their investment, and then private capital, which put taxpayers before themselves, we're making sure that taxpayers are paid, in full, with a profit, before taking a penny. So as long as we're doing the right thing, we're doing what is right for homeowners, what's right for taxpayers -- Fannie and Freddie have accomplished their mission. They did it. Mission impossible--accomplished. So now it's time for them to be resuscitated, rehabilitated; let the equity build up in the companies and prepare for the next rainy day." --- Bruce Berkowitz