The U.S. Supreme Court ruled on June 23 that the Federal Housing Finance Agency had the authority to require housing finance firms Fannie Mae and Freddie Mac to hand over their profit to the U.S. government.
Several hedge funds that are investors in the government-backed entities, including Pershing Square Capital Management and Fairholme Funds, have argued that the government acted illegally in taking that money. Fannie and Freddie, which received a $187 billion bailout during the 2008 financial crisis, have been under conservatorship ever since.Fannie Mae headquarters is seen in Washington, DC, U.S. on February 21, 2014.
Reuters GinaChon And where do we sign up for reparations?
Reuters GinaChon thanks
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