Fannie Mae, Freddie Mac Fall 30%+ As Court Rules In Government’s Favor

Both Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) were both down sharply on Tuesday, on the news that a federal appeals court had upheld a previous ruling that prevented shareholders from suing the government over its decision to keep the profits from the two mortgage giants after their bailout. Shares of Fannie Mae were down 34.7% while Freddie Mac slid 38.1%.