Fannie Mae-No Politics (FNMA)

[Viking61]

If the warrants happen to ever be exercised, the price will be the average price over multiple trading periods. That is why I believe in this scenario that the government will cancel the Seniors and the LP to give the warrants a higher potential worth. Not that I want the warrants to be exercised but to increase their value I believe that seniors would have to be written down first.
Why would the Government price the warrants at a .60 average price when they can price them even at $20 average?
Which also brings the question as to who will buy the stock if they know that a warrant dilution his hanging over their heads?
This is why I believe that a senior write down will happen first.