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On Wednesday, United States President Trump gathered with Citigroup's Chief Executive Officer, Jane Fraser, and Bank of America's Chief Executive Officer, Brian Moynihan, along with their respective teams, at the White House. The purpose of the meeting was to delve into the government's initiative to privatize the prominent mortgage giants Fannie Mae and Freddie Mac. The objective was to gather specific insights and recommendations from the two banking leaders regarding the proposed privatization plan. Since the 2008 subprime mortgage crisis, Fannie Mae and Freddie Mac have been under government conservatorship, and this privatization effort is viewed as a pivotal move towards addressing the lingering challenges stemming from the subprime crisis.
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