Hedge fund Perry Capital suing the Treasury and the Federal Housing Finance Agency

Hedge fund Perry Capital is leading a group of investors in suing the Treasury and the Federal Housing Finance Agency over allegedly improper changes to Fannie Mae's (FNMA.OB) and Freddie Mac's (FMCC.OB) bailout terms that forces the companies to give the government most of their profits instead of paying quarterly dividends of 10%. The lawsuit says the news terms prevent Fannie and Freddie from accumulating the capital that could allow them to buy back the the government's shares.

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