Fannie Mae-No Politics (FNMA)

[imtheshadow]

Actually, I would think that the holders of the warrants would care a lot about shareholders. The only scenario I can think of where that would NOT be the case is if the NWS can't be stopped and reversed - in which case, if the gov't is satisfied with what they took from current shareholders, they might let the warrants become worthless in a receivership and then pass on the golden goose to the TBTF crowd. I think that is a real stretch, and it doesn't resolve the lawsuits, so in the end the gov't might be the only ones who give a darn about shareholders (though we still lose 80% of our investment + the recap dilution).