Fannie Mae-No Politics (FNMA)

[LuLeVan]

With warrants soon expiring, Congress will want to act.

The expiration date can be extended by a consent decree aka xth Letter Agreement (FHFA & Treasury).

I do not advocate use of the warrants because I still see it as an extra backstop in case the GSE's went bankrupt.

The backstop argument doesn't make sense. If the GSEs go bankrupt, the commons will be worthless. 79.9% of zero value is still zero value.