I find your message very hard to respond to. First off, I don't personally think the government gives a hoot about who profits on Fanniegate, be that a hedge fund, a private investor or even themselves. And the "rewarding the banks" inference is equally strange and possibly even naive.
As unpopular as that view is, here, especially among an audience that is largely optimistic investors, I have always maintained that the government's motives arose from two unrelenting objectives. Never again expose the taxpayer to another bailout. And prop up the economy and housing market to save the U.S. financial system. I do not honestly believe that there was any other ulterior motive, most especially including favoring big banks that have been almost relentlessly targeted by Dodd-Frank in the post-crisis era and by government-imposed fines and sanctions.
Let's be honest about investor motives, here. I see many of the same posters here that populated boards of other distressed stocks where the eventual outcome was supposed to be the next American Airlines. The roster could easily compared to the Las Vegas/Wynn list that has been published here, from time to time. Except, sadly, FnF is NOT the next AAL.
The people that chose Fannie/Freddie stock made a bet that has not paid off. That includes both common shares and preferred shares like I own. This may well yet be a six-bagger, as you say, or a ten-bagger, or even something more. Or it may be worthless. That is what investing is all about. The difference is that I recognize my decision was my own. I don't blame government or anyone else for a bad choice I made. I own it.
I see nothing pathetic here, nor do I see any rat holes except those that "investors" chose to pursue themselves. With no encouragement from government.
Maybe it's just time for some to just man up and admit they made bad choices buying this crap.
By the way, I continue to hold my crap with no excuses or blame lobbed at others. No whining wussies, here. I take responsibility for my decisions.
And you?
JMHO.
