Trump’s Nominee For Treasury Secretary Wants To Privatize Freddie Mac And Fannie Mae
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Donald Trump’s nominee to head the Treasury Department, Goldman Sachs veteran Steven Mnuchin, wants to revive talks of privatizing Fannie Mae and Freddie Mac.
Saying it’s on his top 10 to-do list, Mnuchin favors getting the once bailed-out institutions out of government hands, CoStar reports. Mnuchin assured viewers on Fox News he’ll do it in a safely. “Let me make clear we will make sure when they are restructured they are absolutely safe and don’t get taken over again.”
There are no formulated plans for privatization, but investors seem to approve of the plan, with Fannie Mae shares jumping $1.25 to $4.33 following the announcement, and Freddie Mac’s shares rising $1.24 to $4.26. [CoStar]