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Pershing Square now issues slide presentations pushing their own book. Today's is sitting on my desk, titled "How To Save Fannie and Freddie." Evidently, today Ackman is playing Robin Hood for us hard working commoners. How nice of him.

Exhibit 1: there is a slide titled "How Might A Restructuring Work", and the first bullet point is "common and preferred equity extinguished".

Research Edge Question 1: Is this a more sophisticated way of suggesting Ackman getting paid on his short positions?

I won't go into other exhibits or questions, but we continue to have our "HedgEyes" on Bill Ackman.