With new Fannie Mae and Freddie Mac draws on the Treasury’s line of credit now imminent because of tax cut legislation, one GSE shareholder says the payments should be accounted for as paybacks for money that was unfairly taken. Gary Hindes, a Fannie shareholder, has argued unsuccessfully that the Treasury sweep of GSE profits violates state law in Delaware and Virginia, where Fannie and Freddie are incorporated. Having lost the first round, the case is currently on appeal to the U.S. Court of Appeals for the Third Circuit. In a statement released this week, Hindes blasted the agreement between the GSEs and Treasury.