Fannie, Freddie Plunge After Court Rules Hedge Funds Can't Sue
Moments ago, the stocks of the nationalized GSEs - Fannies and Freddie - tumbled by over 30%, after a federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.