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  "docSlug": "dd661d7cb833",
  "documentTitle": "Fannie Mae & Freddie Mac (FNMA/FMCC)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2025-01-16 00:00:00",
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  "nDataPoints": 32,
  "notes": "The slide uses a red border to emphasize the GSE row compared to the other bailout recipients.",
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      "kind": "callout",
      "text": "The government has already made more profit on the GSEs than all other bailout investments combined",
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      "kind": "metric",
      "text": "Government Net Profit: $110bn",
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      "text": "Source: Company and government filings. (1) Proceeds received from principal repayment, dividends, interest, and gains on sale of common stock and other securities less government investment. (2) Year of last repayment or last sale of government-owned securities.",
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      "kind": "table",
      "text": "Comparison table of bailout recipients including AIG, GM, Citi, BofA, JPM, Wells Fargo, Chrysler, and GSEs.",
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      "kind": "title",
      "text": "GSEs Treated Differently Than Other Bailout Recipients",
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      "evidence": "Direct comparison of financial performance between GSEs and other bailout recipients.",
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      "name": "Iceberg",
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      "bestFor": "Consulting, complex problem solving, organizational change",
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      "evidence": "The presentation highlights the Treasury's profit from the GSEs and its implications.",
      "position": 1,
      "objective": "Exposing the contradiction in the Treasury's profit from the GSEs",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
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