Saturday, September 16, 2023 3:13:46 AM
This is why we consider the Warrant as collateral of the investment in SPS, regardless that it wasn't a purchase if the UST got it for free. We consider it purchased at no cost (another example of gifted security: its value was debited from the shareholders' pockets: Additional Paid-In Capital account -Core Capital-, another breach of the FHFA-C's Rehab power. Although, at the same time, surprisingly it was credited to APIC too, one of the 9 Securities Law violations)
Anyway, even as collateral, it's barred in the Charter's Fee Limitation clause:
An illegal-legal collateral.
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