Bill Ackman’s Pershing Square Capital has sued the US - TopicsExpress



          

Bill Ackman’s Pershing Square Capital has sued the US Government, demanding revisions to profit distribution at the two Government Sponsored Entities (GSEs)— Fannie Mae (FNMA) and Freddie Mac (FMCC). According to a 2012 revision made by the US Government on profit distribution of the two bailed-out companies, the US Treasury receives all profits generated by the two companies Ackman’s hedge fund is the largest stakeholder in the two mortgage companies that went down under in the housing market crisis, owning a 10% stake in each. His ownership does not see any gains from the two companies since the government sweeps all profits generated following the $187.5 billion bailout back in 2008. Fannie Mae and Freddie Mac, though, have now returned more than what they received from tax payers.
Posted on: Thu, 04 Sep 2014 15:24:02 +0000

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