I was an executive at Fannie Mae for several years brought in after the financial crisis by another executive new to the organization. All was great until I attempted to make changes to improve the lack of controls that led (in part) to historical losses. Too many executives and managers that were the cause of the losses at the GSEs remained in place or were shifted to similar roles. They did everything they could to protect their turf and minions and cut the legs out from under those who actually knew how to save businesses from themselves.
Needless to say, I was called to the C-Suite on a Thursday afternoon, escorted into my boss's office where HR was waiting for me. I was asked to sign a separation agreement (I declined), asked to hand over my badge, phone, and computer. I said nothing during the 10 minute meeting while a hollow executive (my boss) who has since been promoted twice, pretended to be busy as HR droned on and on about my position being eliminated. At the conclusion, two (not one but two) security guards were waiting to walk me to my car behind the executive building.
If these companies (particularly Fannie Mae) become public, do not invest. The leadership remains incompetent, incestuous, and heartless. Put your money into companies that are true meritocracies, where weak management is thrown out when results stink, not moved to another role, and then still another, because they check some box that has nothing to do with results, leadership, or protecting the taxpayers.
Life is so much better in the real world. I can't believe I wasted 5 years fighting with these clowns. I should have known that the circus always has had clowns and always will!