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Volume 2014 - Number 9

March 6, 2014

Fairholme: Fannie and Freddie Boards Should Honor Fiduciary Duties to GSE Shareholders

A Miami-based investment management firm is accusing the boards of directors of Fannie Mae and Freddie Mac of failing in their fiduciary responsibilities to the holders of the government-sponsored enterprises’ junior preferred and common stock. Fairholme Capital Management, one of the largest holders of junior preferred stock of the GSEs, says the boards need to improve their corporate governance. “At present, you remain...

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