Fannie Mae (FNMA)

[dmadmoney]

This will most likely be perceived as a stupid question but what is the outcome for common stock holders if Fannie/Freddie are privatized? I purchased a few thousand dollars worth when it was 0.28 back in Nov/Dec 2012. I just spent what I was willing to lose but I haven't followed it religiously. Can't seem to figure out, in layman's terms, what happens if the fat lady sings, so to speak. Any thoughts would be appreciated.

Thank you and good luck to all!