Fannie Mae-No Politics (FNMA)

[5bagger]

As such, I think either the seniors will be converted to common or the warrants will be exercised. Not both, but not neither.

Exactamundo.

Pie-in-the-sky to think govt. fesses up and says "Sorry, please forgive us".

Ain't the tone in the courts. It is just the opposite. "We saved you and you should be happy we let you live. Slave!"

Alas, the govt. can't giveaway $100B or more and walk away with nothing.

Convert SPS & Cancel warrants - that's a two-fer. SPS was never intended to convert and warrants are on the books and never intended to be cancelled.

Exercise warrants (and this is the 'gift') cancel the SPS, and consider paid.

Here, the gift is really only 20% of a gift; the gift is to the commoners, and they have 80% of the common upon exercise.

Cancelling the SPS will get rid of lawsuits
Exercising warrants and converting SPS will create more.

Of course, the greedy bastards are known to 'want it all'.