Fannie Mae-No Politics (FNMA)

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Fannie & Freddie: Major Blow To Smart Money
October 2nd, 2014
lawsuitA DC Federal Judge dismissed investor lawsuits related to Fannie Mae (OTCBB:FNMA) and Freddie Mac (OTCBB:FMCC) profits.

CNBC’s Kate Kelly says the ruling is a major potential blow to smart money involved.

“Investors that have bet on the common or preferred equity have included Bill Ackman’s Pershing Square Capital Management LP, Perry Capital LLC, Paulson & Co. and Owl Creek Asset Management LP and units of private-equity firmsBlackstone Group LP (BX) and Carlyle Group LP. (CG),” Zachary Tracer Reports.
Tracer goes on to say, “The court delivered a “right hook” to investors’ hopes, said Jeffrey Lewis, a senior portfolio manager at hedge-fund manager TIG Advisors LLC, which has invested in the preferred shares. He wouldn’t say whether his firm owns them now.”

http://etfdailynews.com/2014/10/02/fannie-freddie-major-blow-to-smart-money/