US Edition
Trump met Citi, BofA CEOs to discuss plans for Fannie and Freddie, sources say
UNITED STATES, AUG 12 – The Trump administration aims to sell 5% to 15% of Fannie Mae and Freddie Mac, potentially raising $30 billion in the largest IPO ever and reducing federal control of mortgage giants.
- On Wednesday, Citigroup CEO Jane Fraser met with President Donald Trump to discuss monetizing Fannie Mae and Freddie Mac, which have been under government conservatorship since 2008.
- The firms have remained under U.S. government control since entering conservatorship after the 2008 crisis, and privatizing them has been a Trump administration goal since his first term.
- Under the plan, the government would sell 5% to 15% of each company, potentially raising about $30 billion, with JPMorgan Chase & Co., Goldman Sachs Group Inc., Citigroup Inc., and Bank of America Corp. advising on pricing and structure.
- Critics warn that the potential IPOs of Fannie Mae and Freddie Mac could increase mortgage costs for American homebuyers, even as shares surged 20% after the Wall Street Journal reported on the plans.
- It remains unclear whether Fannie Mae and Freddie Mac would exit conservatorship if the IPOs proceed, despite Trump’s pledge to maintain loan guarantees.
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Why The Trump Administration’s MAGA Stock Dreams For Fannie And Freddie Could Be A Windfall For Wall Street
Trump has said he wants to take government backed mortgage giants Fannie Mae and Freddie Mac public. But it remains unclear if they will remain under conservatorship or how their shares will be valued.
·United States
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Trump suggests "MAGA" stock listing for mortgage giants Fannie, Freddie
·Washington, United States
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Total News Sources20
Leaning Left3Leaning Right4Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 23%
C 46%
R 31%
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