Friday, December 09, 2016 11:31:41 AM
All this sacrifice from someone who bought 100 shares for 25¢!
Well, they sure as heck don't speak for me.
The warrants were collateral on the money advanced by the Treasury.
That's done in about any business transaction you can name. The warrants served as a security item in case Fannie and Freddie couldn't repay the money advanced to them. It doesn't matter if it was described as collateral or not, it was collateral in 99.9% of all such business dealings. Remember, this "deal" was structured by people who had ill intent for Fannie and Freddie's future and was done outside the approval of the equity holders in these corporations. These people writing the terms of the deal wanted Fannie and Freddie both dead and buried....and came awfully close to their objective.
If Fannie and Freddie are released from conservatorship and the warrants are somehow, miraculously, allowed to stand and not be declared satisfied, then the government has strong-armed the owners of the two corporations into the deal of all deals in the history of the World: THE PURCHASE OF 79.9% OF TWO CORPORATIONS VALUED AT $5+ TRILLION FOR THE PALTRY SUM OF $189 BILLION AND WITHOUT THE CONSENT OF THE OWNERS. YEP, THE GOVERNMENT WOULD HAVE BOUGHT APPROXIMATELY $4 TRILLION IN ASSETS FOR $189 BILLION....A PENNY OR TWO ON THE DOLLAR.
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