You are correct on the purchase of the warrants...now the big question is...are they legal based on what you've posted below.
The amended charters allowed the Treasury to purchase any obligations and other securities issued by the Companies “on such terms and conditions as the Secretary may determine and in such amounts as the Secretary may determine” if the Treasury determined doing so was necessary (i) to provide stability to the financial markets; (ii) to prevent disruptions in the availability of mortgage finance; and (iii) to protect the taxpayers. And, in order to do so, the Treasury had to obtain the consent of the Companies. As set in paragraphs 81-90 and 137-40, supra. the Treasury never obtained the Companies’ consent; instead, the conservatorships and the Stock Agreements were improperly forced upon them
This is an opinion as we don't really know what was said behind closed doors. The fed thinks they had the right...we think they didn't. I certainly hope the fed acted illegally, but again...it will be up to the courts to make those decisions based on the information they have available to them, and how they choose to interpret that information within the law. I hope as much as everyone else that the proof will show the feds bent us over and acted outside the law, and that we do recover what is due us...just don't think we will get a 100% win and total recovery based on the political climate. The politicians will do whatever they can to cover their azzz on this, and if it means tossing us a few scraps to appease us...(release from C-ship...uplisting)they will no doubt go that route.
