Hedge funds including Paulson & Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae (FNMA) and Freddie Mac as investors buy up preferred stock that has long been considered worthless, according to people with knowledge of the discussions.
The improving finances of the two government-owned mortgage companies have kindled hopes among shareholders that they could be revived as private firms. Paulson & Co. is among funds that met with members of the Senate Banking Committee and with staff members in the House of Representatives two of the people briefed on the matter told Bloomberg…..
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