NASHVILLE, Tenn., April 3, 2014 /PRNewswire-USNewswire/ -- Today, Tim Pagliara, Chairman & CEO, CapWealth Advisors, and investor in Fannie Mae and Freddie Mac, announced the formation of a broad coalition of individual Fannie and Freddie shareholders seeking full restitution after their dividends were seized by the Treasury Department in 2012 under terms of U.S. Government-mandated conservatorship.
The grassroots coalition of shareholders will be called Investors Unite and includes investors from across the United States who have banded together to take action to influence the course of government-sponsored enterprise (GSE) reform. The grouping will work to impact and amend proposed legislation, such as the Johnson-Crapo proposal, which would fully vanquish Fannie and Freddie shareholders.
"I'm hearing from scores of outraged people invested in Fannie and Freddie who are incredulous at the way in which the US Government side-stepped the rule of law to seize legitimate investments and profit," said Tim Pagliara. "Many are ready to take action. Some will be in Washington, D.C., next week to meet with legislators like those on the Senate Banking Committee who think they might be able to dismiss investor rights and the rule of law as they rally behind the Crapo-Johnson bill.
Pressure on Congress to enact reform that restores the rights of Fannie Mae and Freddie Mac investors has intensified in recent months under the leadership of famed consumer rights advocate Ralph Nader and Tim Pagliara, both investors in Fannie Mae and Freddie Mac. The two recently came together alongside affordable housing rights advocates at a Shareholder Respect roundtable in Washington, D.C., to point to the failure of GSE reform initiatives, such as the Corker-Warner proposal and PATH Acts, to address shareholder rights.
As a first action by Investors Unite, dozens of investors from across the United States will take part in a round of meetings with the offices of Senate Banking Committee members on Wednesday, April 9, following a press conference at the National Press Club.
For more information about Investors Unite, please visit www.investorsunite.org.
Investors who wish to join or learn more about the coalition can contact firstname.lastname@example.org.
Reporters with inquiries can email email@example.com.
About Investors Unite: Investors Unite is a coalition of private investors from all walks of life, committed to the preservation of shareholder rights for those invested in the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac. It was formed recently by Tennessee investor Tim Pagliara.
SOURCE Investors Unite