Fannie Mae-No Politics (FNMA)

[kthomp19]

80% is ok, but 99% is bad?

That's exactly my point, but in a different way.

Treasury had the warrants issued to them in 2008. Nobody who bought shares after that date has any leg to stand on, legally or morally, in challenging them.

The NWS was determined by courts to be neither a direct nor derivative taking. In that light, how could warrant exercise possibly be seen as a taking? Or, more specifically, how could anyone reasonably expect any lawsuit against Treasury for exercising the warrants to succeed given what happened with the NWS takings cases?

Then, by extension, if a legal challenge to warrant exercise doesn't succeed, why would a challenge to a senior-to-common conversion succeed?