Perry Capital sues over Fannie Mae, Freddie Mac bailout

``A group of investors led by Perry Capital LLC sued the U.S. Treasury late Sunday over bailout terms for mortgage firms Fannie Mae and Freddie Mac, according to media reports. A lawsuit filed in U.S. District Court in Washington claims the government's seizure of all profits from those companies is not legal and violates terms of the government's bailout agreement from 2008... Perry Capital wants to keep the U.S. Treasury from enforcing a third-amendment to preferred stock purchase agreements. The U.S. Treasury is expected to collect more than $200 billion of all profit from Fannie Mae and Freddie Mac.'' -- Sounds bunk to us... if you subtract out the public support, there hasn't even been any net "profit" yet... of course the US authorities got themselves into a real legal quandry by supporting supposedly-"private" entities, so by confiscating any proceeds, they are breaking all sorts of legal contracts.... God bless the United States of federal government lawlessness!