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.