As the largest shareholder of Fannie Mae and Freddie Mac through Pershing Square, Bill Ackman has had it UP TO HERE with the government which, in at least this hedge fund manager's mind, is a dangerous criminal that needs to be removed from society. If it happened to get arrested by cop with a reputation for roughing people up well, so be it.
Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac. Ackman called it "the most illegal act of scale" he has ever seen the US government do.
And it's not just investors with stakes in the companies that should be runnin' scared. It's every citizen in the United States of America, who might as well just up and move to communist Russia circa 1922-1952.
Ackman, the largest shareholder of Fannie and Freddie, and other investors are suing the US government for taking property for public use without just compensation. He said: "And there is no way they will not be allowed to stand, from a legal point of view. And the reason for that is if the US government can step in and take 100% of profits of a corporation forever, then we are in a Stalinist state and no private property is safe — and take your money out of every financial institution, put it into gold or Bitcoin and just get the hell out because we're done, maybe the clothes on your back, but other than that nothing is safe."
And that's being optimistic! Lock up your pants, lock up your shirts, lock up your shoes, and lock up those socks.