Fannie Mae-No Politics (FNMA)

[contrarian bull]

The only question now is: what happen with warrants? I want remember: the warrants was a warranty for a repayment and repayment is made. If the gov executes there warrants, it will bring more lawsuits.

This is a common misconception. The warrants are not a warranty for repayment - since conditions that prevent repayment (bankruptcy, no profits ever, liquidation) would also render the shares (and thus the warrants) worthless.

It is the opposite. They are a reward for the feds "saving" F&F. If F&F do well, the gov't does well. Think of it as profit sharing. As I said earlier - they also act as a motivator for FHFA to manage F&F well, and bring up their stock price. Hmm... that has not worked so well so far... but lets give it another 10 years and see.